PP Resin Pricing Holds Steady Through Q2 — ICIS Outlook

Range-bound resin is the calmest condition for downstream packaging procurement we've seen since 2024. PP at $1,180–$1,240/MT translates to woven PP fabric input cost stability of roughly ±3% for the quarter — meaning the suppliers absorbing the small movements rather than passing them through quote-by-quote. This is the window to lock in 6–9 month volume commitments at known pricing. Three procurement plays to consider now: (1) commit annual volume forecasts on FIBC, lumber wrap, and PP woven bag lines so suppliers can plan production runs at advantaged input cost; (2) negotiate fixed pricing on multi-container quarterly orders rather than per-PO; (3) avoid the temptation to delay procurement waiting for resin to drop further — historically when PP breaks below $1,150 it's because demand has cratered, which usually means your end-customer demand has cratered too. Stable pricing rarely lasts a full quarter; this is a rare window to plan around known costs.