RESIN MARKET UPDATE:

Texas Winter Storm Impact

February 22, 2021

As we move through what seems like one challenge after another, we like to ensure you are kept informed on how situations that may seem far removed can affect how we do business here in the Great Lakes region.

The overwhelming weather and utility crisis in Texas is undoubtably already impacting our product supply and pricing. With the resin market steadily rising at a record pace prior to this weather event, more than a week of non-productive time at numerous facilities in Texas is yet another hit.  The situation has affected oil refineries, chemical plants, ports and transportation.

We expect this to ripple to many product categories, but the most direct hit will be to the following categories:

• Stretch / Shrink films
• Specialty films
• Can liners
• Poly bags
• Poly sheeting

Of course, your Nichols team will do our utmost best to meet our customer’s needs, but please be prepared for extended lead times and fluctuations in pricing on the above products. If you would like more detailed information on the Texas Winter Storm Impacts, please see the linked bulletin from ICIS (Independent Commodity Intelligence Services).

Your Nichols Sales Manager and Customer Service Representatives can give you more information on how this specifically may affect your product mix as the situation evolves.