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Polyethylene prices in the Americas appeared to stabilize or rise,as all but two of the grades assessed by Platts in the region held steady or increased during the week ended July 22. This overall upward movement broke with the downwards trend that had taken hold of all regional markets since the end of April, when record pricing levels, fostered by panic buying amid the uncertainty from the Middle East conflict, led to demand destruction across the global petrochemical sector.

US propylene and derivatives markets continue to see spot prices soften as players seek stabilization. Propylene US propylene prices moved in mixed directions during the June 5-June 19 period, shedding an overall of 5 cents/lb. Platts assessed polymer-grade propylene at a 15-week low of 35 cents/lb on June 16. Prices have since risen, last assessed at 37 cents/lb on June 18.