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Plastics News and Polymer Prices

Heating competition pushes European PVC down after 2 months

The modest recovery seen in European PVC markets proved short-lived as prices reversed direction amid weak fundamentals this month. Producers face the conundrum of heating competition in response to waning demand versus high production costs. Prices saw different sizes of drops after a 2-month long hiatus, during which PVC sellers failed to achieve any margin expansion, even though earlier expectations had told another story...
21-05-2024

China’s import PP, PE markets climb to more-than-one-year highs

China’s import PP markets turned upwards following a month-long stability, while imported PE film grades were quoted higher for two weeks in a row. A shortage of import supply, especially for Middle Eastern origins, justified sellers’ hike attempts. Adding to the scenario were the increase in freight rates and a cautious improvement in demand, albeit limited...
20-05-2024

S Korea’s petchem industry hits impasse, government to step in for drastic restructuring

South Korea’s petrochemical sector has been floundering since 2023 with plant closures, selloffs and mergers in place as major companies have been strained by negative margins. Business Korea recently argued that the Korean government plans to help restructure the country’s petrochemical industry with extraordinary measures by increasing the competitiveness of Korean products...
17-05-2024

SEA ethylene, propylene prices diverge following SCG’s force majeure; NEA ethylene slips further

Last Friday, Thailand’s SCG Chemicals declared force majeure on all petrochemical products, following a fire at a chemical tank in Map Ta Phut port, Rayong. The producer stated that operations at both Map Ta Phut, the Rayong Olefins (ROC) and Map Ta Phut Olefins (MOC) crackers were severely impacted. In terms of olefin prices, there were initial knee jerk responses, with spot propylene prices rebounding to $830-850/ton CFR SEA whilst spot ethylene prices traded slightly higher, at $990/ton CFR SEA...
16-05-2024

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