Saudi PP, PE markets reverse course in Feb after 8 months, maintenance schedule busy in Mid-East
Saudi producers started announcing their February PP and PE offers to their local markets, which suggest increases for the first time since May 2022, although the slump slowed down in the last quarter. Expectations remained firm and several players forecast increases similar in size to what have so far been announced in Saudi Arabia and Jordan... 01-02-2023
Freight carriers aim to manage supply-demand balance by blanking more sailings
Spot freight rates on the transpacific route made a slow start to 2023, with rates across major East-West trades logging small week-on-week reductions. Ocean freight rates ex-Asia were assessed also largely lower last week while carriers moved on to blank more sailings over the Chinese New Year Holiday... 31-01-2023
PP and PE markets set to rebound from two-year lows in Europe
Firmer expectations have come to the forefront in Europe’s PP and PE markets following a 2-month long downtrend. Regional suppliers intend to issue hikes in February, pointing to higher monomer expectations, supply cutbacks as well as firming in other global markets. This has already led to a shift in the market sentiment, spurring demand for resins... 30-01-2023
PET sellers hunt for signs of market bottom in Europe
Europe’s local PET bottle markets have seen players talking about the bottom this week following up to €90/ton drops on January deals. Although demand remained unresponsive to the recent talks about a stabilization and uncertainties about the costs’ side lingered, the rising import offers drove a cautious optimism on the part of sellers... 27-01-2023
