Global freight rates have faced tumultuous shifts throughout 2024. Although rates peaked in mid-July, they remained 132% above the previous year’s pre-Red Sea crisis levels as of late December. As 2025 approaches, the looming US port strike on January 15 coupled with Trump’s reelection and highly possible shift in trade flows amidst barriers and extra tariffs offers too many unknowns for another year ahead for freight rates in mainstream routes...
Polyolefin markets have struggled to see significant price increases this year, apart from the first quarter, which was buoyed by a surge in freight rates driven by Middle East tensions and active derivatives demand. From the second quarter onward, prices lacked strong momentum due to waning demand for end products that fell short of seasonal expectations amid economic challenges. The second half of 2024 started under the influence of declining freight rates. However, a recent recovery in shipping costs has not prevented the typical year-end slowdown in Türkiye...
Leaving behind a difficult year, the European PVC market enters 2025 facing a persistent supply-demand imbalance that continues to hinder any immediate price recovery. Multiple interest rate cuts to curb inflation and the war in Ukraine remained a significant drag on the EU economy, weighing on consumer spending and keeping supplies ample despite supply management efforts. The situation is further complicated by trade barriers, including the impact of antidumping duties, which could shift trade flows and alter market dynamics...
Import prices of polyolefins have fallen in India ahead of the year-end amid lackluster demand for end-products and a perception of ample availability in the country. Suppliers, in the middle of paring down excess inventories to hold more cash before closing their books for the year, have offered discounted prices for large buyers but deals have been few and far between. Despite these bearish conditions, traders remain optimistic about a market recovery in early 2025...
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