The market has been in an upward trajectory for over two months, driven by Middle East disruptions tightening global petrochemical supply chains. Prices for major resins surged sharply from March, with some moderation in May but remaining at elevated levels. US producers are gaining export advantages due to relatively stable domestic operations.  
• Price Movements: PE and PP each up ~10¢/lb in March (cumulative higher since), with additional increases targeted in April-May. PVC and PET also rose significantly (PVC ~3¢/lb, PET 8-10¢/lb). Indian and Asian markets saw even steeper gains (PP/PE up 20-38%+ in some periods).  
• Key Drivers: Strait of Hormuz disruptions reducing Middle East exports (naphtha, polymers), higher crude/feedstock costs, plant turnarounds, and strong export pull from North America. Demand recovery in China and downstream restocking added support. 
• Outlook & Variations: Prices likely to stay firm or rise further unless tensions ease. Some regional rollovers or minor corrections noted in early May (e.g., certain PP grades), but overall bullish due to supply constraints. Recycled resins and bio-based alternatives gaining attention amid volatility.