The global crude markets have seen price levels of US$55/ barrel in recent weeks, pushing raw material prices higher. As petrochemical demand continues to remain relatively stable, the past few weeks have seen a continuous rise in the Polypropylene (PP), Poly Vinyl Chloride (PVC) and Nylon prices for North America.
During 2004, PP prices recorded a rise of almost 7% in the US and Canada, with domestic demand showing a jump of nearly 6%. Demand slowed down in January, but rising propylene monomer prices helped the price rise.
US/Canadian domestic PVC sales were up nearly 7% in Jan-Nov 2004.
A dampening automotive market kept nylon demand in US and Canada almost stagnant in 2004, with nylon recording a growth of barely 1%. Nylon prices pegged up slightly up in Q4- 2004, but is expected to remain put for some more time.