Blow molding spot prices rose 1.5 cents/lb, but deals were few as participants were waiting for signs of stabilization following the financial market shocks earlier in the week. Ineos’ blow molding auction got done late last week at 65 cents/lb in railcars or 67.5 cents/lb FAS Houston. Traders had no interest Monday in 65 cents/lb blow molding. “Maybe I’d buy in the low 60’s, but buyers have gotten quiet, so I’m not really looking for product now,” a trader said. “Whoever bought at 65 is (in trouble),” another source said. Ineos also held an HDPE injection auction that concluded at 65 cents/lb, the same level as the auction started. It was a mystery to many where 65 cents/lb injection could be resold. If it were to go domestic, the price was considered too high as it would translate to a delivered price of 68 cents/lb to the Midwest, and 69 cents/lb to the Northeast.
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