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Plastics News and Polymer Prices

China’s import PP prices see first decline in months despite freight rally, SEA also falters

Import homo-PP prices in China have followed a stable to firm trend since early January, driven by rising costs and reduced supply from key sources, particularly during the heavy Q2 turnaround season. Recently, rallying freight costs have also supported high offers for imports. However, the market has now seen its first decline in several months due to growing resistance from converters and ample local supplies. Additionally, high price levels in Southeast Asia have faltered due to a lack of buying interest...
25-06-2024

Freight rates return to pandemic-era prices; is there any relief soon?

Freight rates have risen for 8 successive weeks with the rally gaining momentum recently amid ongoing bottlenecks in Asian ports caused by lingering Red Sea diversions, and ensuing demand boom and reduced capacity. The latest indexes have climbed above September 2022 levels, suggesting a return to the price territory of the pandemic era. Two critical questions arise at this point: How long will this rally last? Is there any ease in sight?...
24-06-2024

Turkish buyers lean toward nearby European PE, PP cargos amid logistic mishaps

Polyolefin players are yet to return to their desks from Eid al-Adha holidays after wrapping up their June PP and PE businesses with monthly hikes in Türkiye. The culprit behind the gains were soaring shipping costs amid container shortages and a lack of space in vessels, rather than a brisk demand from downstream sectors...
21-06-2024

PE depicts a less robust scene than PP, will European sellers be able to stem the slide?

In Italy and West Europe, spot PE prices have witnessed renewed downward adjustments in response to the weak market conditions. Despite the challenging landscape, signs of cautious optimism are emerging amid the recent rally in freight rates and container shortage. Players are assessing whether the bottom is near after 3 months of bearish run...
20-06-2024

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