Prices won't go down, and may rise soon.The fourth quarter saw a significant drop in prices of commodity thermoplastics such as polyolefins and PET, which largely negated the price increases of the second and third quarters. Lower energy and feedstock feed·stock n. Raw material required for an industrial process. Noun 1. feedstock - the raw material that is required for some industrial process raw material, staple - material suitable for manufacture or use or finishing prices were one reason for soft resin resin, any of a class of amorphous solids or semisolids. Resins are found in nature and are chiefly of vegetable origin. They are typically light yellow to dark brown in color; tasteless; odorless or faintly aromatic; translucent or transparent; brittle, fracturing prices. Others included somewhat lackluster lack·lus·ter adj. Lacking brightness, luster, or vitality; dull. See Synonyms at dull. Adj. 1. lackluster - lacking brilliance or vitality; "a dull lackluster life"; "a lusterless performance" domestic demand, which led many processors to reduce year-end resin inventories about two months earlier than usual. At the same time, resin suppliers reduced operating rates Operating rate The percentage of total production capacity of a company, industry, or country that is being used. operating rate The portion of capacity at which a business operates. , which had been above 90% for most of the year, and dramatically liquidated DAMAGES, LIQUIDATED, contracts. When the parties to a contract stipulate for the payment of a certain sum, as a satisfaction fixed and agreed upon by them, for the not doing of certain things particularly mentioned in the agreement, the sum so fixed upon is called liquidated damages. (q.v. their polyolefin polyolefin synthetic material used for surgical sutures, e.g. in polyethylene and polypropylene sutures. inventories through aggressive competitive pricing in secondary markets. Industry sources now believe polyolefin prices have bottomed out, and suppliers are poised to push new price increases starting this month. PVC PVC: see polyvinyl chloride. PVC in full polyvinyl chloride Synthetic resin, an organic polymer made by treating vinyl chloride monomers with a peroxide. prices are expected to hit bottom soon, and polystyrene polystyrene (pŏl'ēstī`rēn), widely used plastic; it is a polymer of styrene. Polystyrene is a colorless, transparent thermoplastic that softens slightly above 100°C; (212°F;) and becomes a viscous liquid at around 185°C; may already have turned around. Pricing projections for 2007 are sketchy at best. Most industry sources hesitate to venture beyond the first quarter, citing the difficulty of gauging how energy and feedstock prices will fare. Michael Greenberg Michael Greenberg (28 November 1914-19 April 1992) was a scholar of Chinese economics and history. He was alleged to have provided a Soviet spy with information during the 1940s, but was never charged with espionage. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of The Plastics Exchange, a Chicago-based resin-trading web site, believes the balance of supply and demand will shift pricing power Pricing Power An economic term referring to the effect that a change in a firm's product price has on the quantity demanded of that product. Pricing power ties in with the "Price Elasticity of Demand. toward resin suppliers, particularly in polypropylene polypropylene (pŏl'ēprō`pəlēn), plastic noted for its light weight, being less dense than water; it is a polymer of propylene. It resists moisture, oils, and solvents. . He adds, "In the long run, energy and feedstock prices will remain the largest influence on resin prices." PE prices hit bottom Last year, polyethylene polyethylene (pŏl'ēĕth`əlēn), widely used plastic. It is a polymer of ethylene, CH2=CH2, having the formula (-CH2-CH2-)n prices went up 11 cents/lb in the second and third quarters, followed by a plunge The term Plunge has multiple meanings:
To sell an asset at a price sufficient to recover the original outlay or to offset a previous loss. 6 cents as of Jan. 1. Most industry sources think PE prices have bottomed out, and PE suppliers appear bullish Bullish Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish that they will be able to raise prices this month. Mike Burns
However, the London Metal Exchange London Metal Exchange (LME) A market for trading base metals, where traded options contracts are available against the underlying futures contract. (LME See London Metal Exchange. LME See London Metal Exchange (LME). ) short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. futures contract Futures Contract An exchange traded agreement to buy or sell a particular type and grade of commodity for delivery at an agreed upon place and time in the future. Futures contracts are transferable between parties. for January in g-p blown-film butene bu·tene n. Any of several forms of butylene. butene See butylene. Noun 1. butene - any of three isomeric hydrocarbons C4H8; all used in making synthetic rubbers LLDPE LLDPE Linear Low Density Polyethylene sold at 52.2 cents/lb, up from December's 50.1 cents/lb. Contributing factors: In the last couple of months, plant operating rates dropped from over 90% to the mid- mid- pref. Middle: midbrain. 80s. Nonetheless, one major supplier says, "PE spot prices have stabilized sta·bi·lize v. sta·bi·lized, sta·bi·liz·ing, sta·bi·liz·es v.tr. 1. To make stable or steadfast. 2. while prime resin prices have dropped, so the difference is now the typical 5 cents to 6 cents/lb. We don't expect to see lots of spot resin available. We see the destocking and seasonal slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. coming to an end. We have even seen some December prebuying in anticipation of price increases." Ethylene ethylene (ĕth`əlēn') or ethene (ĕth`ēn), H2C=CH2, a gaseous unsaturated hydrocarbon. It is the simplest alkene. monomer monomer (mŏn`əmər): see polymer. monomer Molecule of any of a class of mostly organic compounds that can react with other molecules of the same or other compounds to form very large molecules (polymers). prices are also considered likely to firm up because supply is tight. Resin demand for 2006 was expected to show at least a 2% increase over the previous year. Suppliers expect another banner month for exports this January because North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. PE resin is based on natural gas feedstock, which costs less than crude oil. Demand growth for this year is generally projected at about 2% to 3%. "I expect demand will be less in the first quarter and supply/demand will be balanced or a bit tighter in the second and third quarters," predicts one supplier. Based on this scenario, some sources say price increases could be issued in the first quarter. PP prices on the upswing Upswing An upward turn in a security's price after a period of falling prices. Polypropylene prices in 2006 rose by 10 cents to 12 cents/lb but dropped about that much by mid-November. A price hike emerged in early December when Ineos and Basell issued a 5 cents/lb increase for Jan. 1. Believing PP prices to have bottomed out, industry sources expected this increase to gather strength. Meanwhile, LME's January futures contract for g-p injection-grade homopolymer ho·mo·pol·y·mer n. A polymer composed of identical monomeric units. sold at 53.4 cents/lb, up from December's 50.1 cents. Contributing factors: Industry sources expect upward pricing pressure on PP resin for at least the first quarter due to a push from energy prices (both crude oil and natural gas). They note that while PP prices are low, there is not a lot of margin between the resin and monomer. Says Scott Newell, a managing partner at RTI, "Propylene propylene /pro·pyl·ene/ (pro´pi-len) a gaseous hydrocarbon, CH3CHdbondCH2. propylene glycol a colorless viscous liquid used as a humectant and solvent in pharmaceutical preparations. monomer prices have bottomed out, dropping 9 cents/lb in November to 40.5 cents/lb. December contracts could rise a bit, but no more than 0.5 cents/lb. Says Newell, "The market was extremely oversupplied for 30 to 60 days, but then PP resin suppliers dropped operating rates and the export market also picked up significantly for them." Demand for PP through October was down 1.6%. Some suppliers indicated that year-end sales appeared a bit stronger, so 2006 overall could possibly show flat instead of negative growth. Growth projections for 2007 are a cautious 2% to 3%. PP operating rates were in the 90% to 95% range for most of the year but dropped to the mid-80s by the end of November. Inventory levels at suppliers and customers are said to be very low. Says RTI's Newell, "We see domestic processors starting to restock re·stock tr.v. re·stocked, re·stock·ing, re·stocks To furnish new stock for; stock again. Verb 1. restock - stock again; "He restocked his land with pheasants" . They think PP prices are at or near the bottom, so it is risky not to start buying because prices will likely move up." PET prices down Last year saw PET prices rise 12 cents to 15 cents/lb, but a sharp decrease of 8 cents between September and November brought the net increase to about 4 cents/lb. Domestic demand grew about 7%, now considered typical for PET, although suppliers concede con·cede v. con·ced·ed, con·ced·ing, con·cedes v.tr. 1. To acknowledge, often reluctantly, as being true, just, or proper; admit. See Synonyms at acknowledge. 2. that it slipped by year's end due typical end-of-year inventory destocking and anticipation of possible further price decline. Some industry sources say PET prices this year could remain about where they wound up at the close of 2006. Contributing factors: PET suppliers say their profit margins were slashed slash v. slashed, slash·ing, slash·es v.tr. 1. To cut or form by cutting with forceful sweeping strokes: slash a path through the underbrush. 2. by 50% last year, as feedstock tabs rose faster than resin prices. Then PET prices dropped after a sharp decrease in prices of feedstocks paraxylene and ethylene glycol ethylene glycol: see glycol. ethylene glycol Simplest member of the glycol family, also called 1,2-ethanediol (HOCH2CH2OH). It is a colourless, oily liquid with a mild odour and sweet taste. . December contract prices for paraxylene appeared likely to rise a couple of cents. Although demand growth of about 7% is projected for 2007, the PET market will look quite different from the past two years. Says one major supplier, "After a tight 2005, and a somewhat balanced 2006, the market will be oversupplied this year and into the next. Supply and demand are not expected to be balanced until 2009." This is a result of about 20% growth in domestic resin capacity due to new plants being brought on stream by Wellman (500 million lb/yr last July), Eastman (770 million lb starting up now), and DAK n. 1. Post; mail; also, the mail or postal arrangements; - spelt also dawk sp>, and dauk sp>. Dak boat a mail boat. Dak bungalow a traveler's rest-house at the end of a dak stage. - Percy Smith. Americas (400 million lb coming soon). Says one industry source, "The domestic market is approximately 8 billion lb/yr, so it will take some time for all that new capacity to be absorbed." As a result, PET plant utilization rates, which had been in the 90% to 95% range through most of 2006, are expected to drop this year to the upper 70s or low 80s. PVC prices look soft for '07 PVC prices were slumping Slumping is a categorical description of an area of techniques for the forming of glass through the use of heating glass to the point where it becomes plastic. It is generally formed by the force of gravity. again last month. Pipe producers expected the slide to cut 2 cents in December, 1 cents more in January, and then flatten out Verb 1. flatten out - become flat or flatter; "The landscape flattened" flatten change form, change shape, deform - assume a different shape or form splat - flatten on impact; "The snowballs splatted on the trees" . Contributing factors: Overall PVC demand in 2006 was flat, as the drop in housing starts began to be felt. The American Plastics Council The American Plastics Council (APC) is a major trade association for the U.S. plastics industry. Through a variety of outreach efforts, APC works to promote the benefits of plastics and the plastics industry. reported domestic production for the first nine months of 2006 down about 1% from 2005. But taking into account Asian imports, which made up for post-hurricane disruptions early last year, total domestic PVC consumption was either flat or up a little bit. Demand in December was so slow that processors closed plants around Dec. 20 for an unusual 10-day shutdown shut·down n. A cessation of operations or activity, as at a factory. shutdown Noun the closing of a factory, shop, or other business Verb shut down . Because of slower home sales, market observers are predicting that PVC demand will continue to slow for at least the first six months of 2007. PS prices up, demand down Polystyrene resin producers are all asking for a 3 cents/lb increase Jan. 1. EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. producers announced 4 cents hikes for Jan. 15. Contributing factors: APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. data show PS demand down 3% for the first three quarters of 2006, with no sign of improvement in the fourth quarter. The consensus for 2007 is that since Dow and Nova each took 300 million lb/yr of PS capacity out of the market in '06, pricing shouldn't be too soft. Resin demand, however, may slip further. Demand for crystal PS is stronger than for HIPS, largely because of foam packaging applications. HIPS has felt more competitive pressure from PP and coated paper Coated paper is paper which has been coated by an inorganic compound to impart certain qualities to the paper, including weight and surface gloss, smoothness or ink absorbency. Kaolinite is the compound most often used for coating papers used in commercial printing. . North American styrene sty·rene n. A colorless oily liquid from which polystyrenes, plastics, and synthetic rubber are produced. Also called vinylbenzene. monomer is flowing to Asia, where prices are higher--an outflow that could tighten monomer supplies and raise prices here in '07. Meanwhile, the downward trend in benzene benzene (bĕn`zēn, bĕnzēn`), colorless, flammable, toxic liquid with a pleasant aromatic odor. It boils at 80.1°C; and solidifies at 5.5°C;. Benzene is a hydrocarbon, with formula C6H6. prices appeared to end in mid December, when spot benzene tabs began to rise again.
Market Prices Effective Mid-December (a)
RESIN GRADE (b) cents/LB cents/CU IN (c)
ABS
MED IMPACT 84-90 3.1-3.4
HI IMPACT 89-125 3.3-4.7
X-HI IMPACT 99-140 3.7-5.3
HI HEAT 89-110 3.3-3.8
PIPE 89-110 3.3-4.1
SHEET 94-110 3.5-4.2
TRANSPARENT 129-165 5.1-6.4
FITTINGS 89-115 3.3-4.3
PLATING 99-105 3.7-3.9
FLAME RET 124-140 4.6-5.9
STRUCT FM 87-97 3.2-4.3
10% GLASS 129-140 4.8-5.6
30% GLASS 124-136 4.6-6.3
ABS/PC ALLOY 149-180 5.5-6.8
ABS/PVC ALLOY 134-139 5.0-5.2
ABS/NYLON ALLOY 194 7.3
ACETAL
HOMOPOL 151-172 7.7-8.7
20% GLASS 171-235 8.7-11.9
COPOLYMER 144-160 7.3-8.1
25% GLASS 171-245 8.7-12.4
ACRYLIC
G-P 117 5.0
IMPACT 192 8.2
ACRYLONITRILE
COPOL
EXTRUSION 78-110 3.3-4.7
INJECTION 130-191 5.4-7.9
ALKYD 65-74 4.9-5.5
CELLULOSICS
ACETATE 187 8.6
CAB 189 8.2
CAP 189 8.2
DAP (G-P) 251-497 16.3-34.7
EPOXY
G-P RESIN 116-126 NA (d)
COMPOUNDS
C/B/T (e) 123-166 9.4-12.9
R/C/D (f) 208-271 15.3-20.1
SEMICONDUCTOR
NOVOLAC 193-228 13.1-15.9
ANHYDRIDE 188-268 13.9-19.2
EVA
INJECTION 46-52 1.5-1.7
FILM EXTRU 42-49 1.4-1.6
EVOH 265 11.3
FLUORO-
POLYMER
CTFE 5000-6000 385-462
ECTFE 1470-1680 93.1-107.7
ETFE 1155-1680 70.7-102.8
FEP 971-1470 74.8-113.2
PFA 1785-2520 134.9-190.5
PTFE 450-900 34.8-69.7
PVDF 680-900 43.3-57.3
IONOMER
PACKAGING 127-166 4.3-6.0
INDUSTRIAL 150-244 5.0-8.3
LIQUID-
CRYSTAL
POLYMERS
INJECTION
MIN FILLED 690-1035 44.2-72.1
GLASS FILLED 695-895 40-52
CARBON FILLED 1700-2000 83.2-138.6
UNFILLED 1000-1200 58-70
EXTRUSION
UNFILLED 1200-2200 60.5-110.9
MELAMINE
COMPOUND 90-94 5.5-5.6
MELAMINE/
PHENOLIC
COMPOUND 75-83 4.5-5.0
NYLON
TYPE 6 139-159 5.7-6.5
MIN FILLED 131-144 5.4-5.9
30% GLASS 148-173 6.0-7.0
TYPE 66 153-168 6.3-6.9
MIN FILLED 151-159 6.2-6.5
30% GLASS 142-192 5.8-7.9
TYPE 69 250-276 9.7-10.7
TYPE 6/10 286-313 12.4-13.6
TYPE 612 400 15.3
30% GLASS 309-311 14.7
40% GLASS 309 14.7
TYPE 46 350 17.6
TYPE 11 329-341 13.6-14.1
30% GLASS 331-350 15.0-15.8
40% GLASS 347-360 17.7-18.5
TYPE 12 318-341 12.1-13.0
30% GLASS 327-350 14.7-15.8
50% GLASS 299-340 15.6-17.8
TRANSPARENT
AMORPHOUS 247-360 10.3-15.0
PHENOLIC
MOLD COMP 75 3.8
REINFORCED
GRADES 105-268 6.1-16
POLYAMIDE-
IMIDE (g)
UNFILLED 2750 148.5
30% GLASS 2500 135
30% CARBON FIB. 3500 185
POLYARYLATE 200-280 8.8-12.3
POLYARYL-
SULFONE 440 21.8
POLYETHYLENE
G-P 94-96 3.1
FILM 88-91 2.9
PIPE
COLD WATER 116-120 3.9-4.0
HOT WATER 162-166 5.5-5.6
POLYCAR-
BONATE
INJECTION 138-165 5.9-7.0
20% GLASS 177-190 7.6-8.2
30% GLASS 178-217 7.6-9.3
EXTRUSION 145-180 6.3-7.8
BLOW MOLD 155-190 6.7-8.2
STRUCT FOAM 149-181 6.4-7.8
20% GLASS 235-255 10.1-11.0
FR 166-197 7.1-8.5
CD 140-200 6.0-8.6
POLYESTER (TP)
PBT TYPE
UNFILLED 143-150 6.9
HI-IMP 156-167 19.6-21
30% GLASS, FR 185-207 11.9
STRUCT FOAM 159-165 NA (d)
PET
BOTTLE (RAILCAR) 78-80* [down arrow] 3.9-4.0* [down arrow]
MOD PET
30% GLASS 132-143 7.4
55% GLASS 148-155 9.8
30% GLASS,
FLAME PET 147-157 9.2
PETG COPOL 114-124 5.2-5.6
POLYESTER
THERMOSET
G-P ORTHO 140-145 NA (d)
ISOPHTHALIC 165-175 NA (d)
BIS-A 210-215 NA (d)
POLYETHERETHER-
KETONE (PEEK) 4400 231
30% GLASS 3300 173
POLYESTER-
IMIDE 641-646 29.3-29.5
30% GLASS 526-531 24.0-24.2
POLYESTER-
KETONE(PEK) 2950 130.1
30% GLASS 2600 153
POLYESTER-
SULFONE 350-400 17.2-19.7
30% GLASS 425-525 21-25.9
POLYETHYLENE
(RAILCAR)
LDPE
G-P MOLDING
& EXTRU 79-81* [down arrow] 2.6-2.7* [down arrow]
INJECTION 80-82* [down arrow] 2.7* [down arrow]
LID RESIN 82-84* [down arrow] 2.7-2.8* [down arrow]
LINER 76-78* [down arrow] 2.5-2.6* [down arrow]
CLARITY 75-77* [down arrow] 2.5-2.6* [down arrow]
EXTRU COATG 79-81* [down arrow] 2.6-2.7* [down arrow]
BLOW MOLD 82-84* [down arrow] 2.7-28* [down arrow]
LLDPE,
BUTENE-
BASED
G-P MOLDING 65-67* [down arrow] 2.2-2.3* [down arrow]
FILM 67-69* [down arrow] 2.3-2.4* [down arrow]
LME 30-DAY (j)* 52.2* [up arrow] 1.8* [up arrow]
ROTOMOLD 69-71* [down arrow] 2.3-2.4* [down arrow]
LLDPE,
HAO-BASED
G-P MOLDING 70-72* [down arrow] 2.4* [down arrow]
LID RESIN 80-82* [down arrow] 2.7* [down arrow]
LINER FILM 74-76* [down arrow] 2.5-2.6* [down arrow]
HDPE
G-P INJ MOLD 67-69* [down arrow] 2.4* [down arrow]
FILM 74-76* [down arrow] 2.5-2.6* [down arrow]
BLOW MOLD 70-72* [down arrow] 2.4-2.5* [down arrow]
HMW-HDPE
BLOW MOLDING 74-76* [down arrow] 2.5-2.6* [down arrow]
FILM 73-75* [down arrow] 2.5* [down arrow]
PIPE 81-83* [down arrow] 2.7-28* [down arrow]
UHMW-PE 100-125 3.6-3.7
PPE/PPO-
BASED RESIN
INJECTION 180 6.8
20% GLASS (h) 283 12.3
30% GLASS (h) 291 13.3
EXTRUSION (h) 242 9.2
STRUCT FM 231 NA (d)
PIPS
40% GLASS 357-404 21.2-24.0
55% GLASS/
MINERAL 289-310 20.8-22.3
65% GLASS/
MINERAL 226-273 15.5-18.7
POLY-
PROPYLENE
(RAILCAR)
G-P HOMOPOL
INJECTION 76-78* [down arrow] 2.5-2.6* [down arrow]
LIME 30-DAY * 53.4* [down arrow] 1.7* [up arrow]
EXTRUSION
FIBER 74-76* [down arrow] 2.5* [down arrow]
PROFILES 80-82* [down arrow] 2.6* [down arrow]
RANDOM COPOL
BLOW MOLDING 81-83* [down arrow] 2.6-2.7* [down arrow]
FILM 81-83* [down arrow] 2.6-2.7* [down arrow]
INJECTION 78-80* [down arrow] 2.6* [down arrow]
IMPACT COPOL
MED IMP 88-90* [down arrow] 2.9* [down arrow]
HI IMP 91-93* [down arrow] 3.0* [down arrow]
POLYSTYRENE
(RAILCAR)
G-P CRYSTAL 79-85 3.0-3.3
HI HEAT 82-88 3.1-3.3
HIPS 80-85 3.0-3.3
SUPER HI IMP 90-94 3.2-3.5
FR 98-106 3.7-4.0
STRUCT FM (FR) 105-108 NA
EPS
UNMODIFIED 85-88 NA (d)
MODIFIED 86-90 NA (d)
POLYSULFONE 569 25
10% GLASS 669 32
30% GLASS 609 20
POLYURE-
THANE (TP)
ESTER TYPE 185-255 8-11
ETHER TYPE 245-295 10.6-13
PU
ISOCYANATES (i)
POLYMERIC MDI 118-135 NA (d)
80/20 TDI 145-155 NA (d)
PVC RESIN
(RAILCAR)
G-P HOMOPOL 50-52* [down arrow] NA (d)
PIPE 49* [down arrow] NA (d)
FILM 58-61* [down arrow] NA (d)
COPOLYMER
FLOORING 68-70 NA (d)
DISPERSION
HOMOPOLY 81-87 NA (d)
COPOLYMER 86-90 NA (d)
CPVC PIPE
COMPOUND 119 NA (d)
PVDC
EXTRUDABLE 162 NA (d)
SILICONES
MOLD. COMP. 581-640 38.1-39.3
SPECIALTY GR. 891-3148 NA (d)
SILICONE/EPOXY 339-343 22.5-22.8
STYRENE-
ACRYLIC 108-112 3.7-4.0
SAN (G-P) 66-74 2.5-2.8
STYRENE
MALEIC
ANHYDRIDE
G-P 110-115 4.2-4.3
HI IMP 130-140 4.2-4.5
FR 175-183 6.7-7.0
TP ELASTOMERS
OLEFINIC 70-76 2.4
POLYAMIDE 300-350 10.9-12.7
POLYESTER 200-310 8.8-13.6
STYRENIC 83-237 2.9-8.3
UREA MOLDING
COMPOUND
BLACK & BROWN 76 3.8
WHITE & IVORY 81 4.0
VINYL ESTER
COR RES 218-230 NA (d)
HEAT & COR RES 243 NA (d)
KEY: Colored areas indicate pricing activity. An arrow (') indicates
direction of price change. (a) Truckload, unless otherwise specified.
(b) Unfilled, natural color, unless otherwise specified. (c) Based on
typical or average density. (d) Not applicable. (e) Novolao and
anhydride grades for coils, bushings, transformers. (f) Novolac and
anhydride grades for resistors, capacitors, diodes. (g) In quantities
of 20,000 lb. (h) 19,800-lb load. (i) Prices include benzene surcharge.
(j) LME 30-day futures contract for lots of 54,564 lb.
Note: Colored areas indicate pricing activity indicated with *.
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