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Plastics News and Polymer Prices

Freight rates snap rally, Red Sea crisis keeps decreases in check

Global ocean freight rates have corrected down for the past two weeks, after going through the roof in January . This is because demand has notably slowed down due to Chinese Lunar Year holidays and shipping companies started to add vessels and optimize their operations in accordance with the current shipment conditions in the Red Sea...
14-02-2024

Worsening dollar shortage pushes Egypt’s local PP, PE prices to never-before-seen highs

Local polyolefin prices in Egypt have been on an intact upward trajectory since late December. The deepening foreign exchange crisis as well as restrained imports continued to buoy local prices despite below-average demand. ChemOrbis Price Index suggests new all-time highs for local PP and PE markets in Egypt...
13-02-2024

Stats: US PE exports hit a renewed record in 2023, sales to China boom

ChemOrbis Stats Wizard Pro suggests a new all time-high for US PE exports breaching the 13-million-ton threshold. Unlike previous years, when Central and South America were targeted as nearby destinations, the US strikingly boosted its PE exports to China in 2023. This is despite the fact that China continued to add a remarkable amount of new capacity last year...
12-02-2024

Türkiye’s PP market continues to grapple with tight supply, prices at multi-month highs

Polymer players have been tackling a supply crunch since late 2023 due to the Red Sea unrest, while the prolonged logistic hurdles remained the main driver of new price hikes in February. PP has taken the hardest hit from disruptions to the global supply chain, as Türkiye depends on import suppliers for this product to a large extent...
09-02-2024

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