Plastic World

Vietnam PP market yet to respond to faltering upturn in China

Vietnam PP market yet to respond to faltering upturn in China

Updated on:22/07/2019

According to ChemOrbis Price Index, Vietnam’s local and import homo-PP markets extended gains into the fourth week after bottoming out in mid-June. Players are now wondering whether the firming trend in Vietnam will be sustained as the sentiment in China PP market has faltered recently.

China’s Jan-May total polymer imports hit a record of nearly two decades

China’s Jan-May total polymer imports hit a record of nearly two decades

Updated on:15/07/2019

China’s cumulative polymer imports during the first five months of 2019 rose 14% on year to more than 10 million to hit the highest in nearly two decades since Chemorbis started compiling the country’s import statistics in 2001.

China’s export PET market faces correction after rising 10% from two-year-low

China’s export PET market faces correction after rising 10% from two-year-low

Updated on:11/07/2019

PET markets in China have posted slight decreases recently following three consecutive weeks of gains, which is regarded as a correction among players since export prices out of China hit a two-year-low in mid-June and rose almost $100/ton in the following weeks, suggests ChemOrbis Price Index.

European PS hits year-to-date low on July drops

European PS hits year-to-date low on July drops

Updated on:08/07/2019

Fresh decreases in the PS market have shown up in July following decreases of up to €130-150/ton in June. However, European PS suppliers approached the market with decreases smaller than the monthly styrene drop of €48/ton to recover their margins.

Vietnam’s PE market sees first hike attempts after two months

Vietnam’s PE market sees first hike attempts after two months

Updated on:05/07/2019

In Vietnam, PE prices were on a mostly bearish trend since late April due to thin buying interest and ample availability. However, some suppliers have slightly lifted their import offers recently ,citing the recovering sentiment in China PE market, the improvement in demand and higher energy costs.

European PE market braces for further drops in July

European PE market braces for further drops in July

Updated on:02/07/2019

In Europe, June spot PE deals were closed with decreases of up to €50/ton despite the stable outcome of ethylene contracts. Late June discounts have failed to entice PE buying appetite as July expectations for further decreases pushed buyers to hold onto their waiting stance. 

The monthly ethylene contracts that settled down €75/ton late Friday also confirmed these expectations.

PE sentiment improves in China; local market recovers from 10-year low

PE sentiment improves in China; local market recovers from 10-year low

Updated on:01/07/2019

In China’s PE market, sentiment has cautiously picked up as rising LLDPE futures and crude oil prices have boosted demand, helping local suppliers renew confidence after a prolonged period of price weakness.

China’s PET markets extend rebound on firmer costs

China’s PET markets extend rebound on firmer costs

Updated on:27/06/2019

After shifting direction from their two-year lows over the past week, local and export PET markets in China have continued their rebound during the final days of June in line with higher upstream costs. 

The recent gains in crude oil futures and improving demand were also cited as other supportive factors.

Weekly resin report: Trading picks up marginally, as prices continue to soften

Weekly resin report: Trading picks up marginally, as prices continue to soften

Updated on:26/06/2019

Although spot resin trading improved compared with the last couple of weeks and completed volumes were almost average, activity still fell short, according to the PlasticsExchange (Chicago). This has been the first extended quiet trading period since December, said the resin clearinghouse in its Market Update.

Asian ethylene-naphtha spread at almost 7-year low

Asian ethylene-naphtha spread at almost 7-year low

Updated on:25/06/2019

The price spread between the weekly average prices of Asian spot ethylene and naphtha has narrowed to its lowest level since 2012 this week amid 10-year-low ethylene pricing, data from ChemOrbis Price Wizard showed.

Turkey’s PP, PE markets at a standstill amid lingering downturn

Turkey’s PP, PE markets at a standstill amid lingering downturn

Updated on:24/06/2019

PP and PE prices have mostly recorded a new series of price cuts this week in Turkey in tandem with relentless drops in major global markets. The low season, coupled with a lack of supply concerns, has kept purchasing volumes hand to mouth ahead of the rerun of the elections in Istanbul on Sunday.

China's PP market at almost 2-year low; H2 outlook bearish

China's PP market at almost 2-year low; H2 outlook bearish

Updated on:20/06/2019

ChemOrbis Price Index reveals that import and local PP prices in China have recently hit their lowest levels since July 2017 following the latest round of decreases driven by persistently disappointing demand.