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Record Plastic Prices May Go ‘Stratospheric’ on Hurricane

  • Almost 20% of global ethylene production located on Gulf Coast
  • Plastic-making chemicals already suffering supply shortages
Updated on

Record plastic prices are poised to push even higher as a storm that’s forecast to evolve into a major hurricane bears down on the U.S. Gulf Coast region that manufactures almost 20% of the world’s ethylene.

Tropical Storm Ida is strengthening and by the time it slams into Louisiana on Sunday afternoon is expected to be packing winds of 115 miles per hour (185 kph). That puts chemical plants owned by Exxon Mobil Corp., Dow Inc. and others squarely in the bull’s-eye, threatening supplies of polymers used in everything from shampoo bottles to water pipes.