As most polymer players returned from the Eid al-Fitr holiday only this week, they were met with a global storm fueled by a deeper trade war, sparked by a series of tariffs imposed by the US on imports from dozens of countries, particularly China, coupled with a sharp drop in oil prices. The resulting loss of cost support, along with domestic liquidity issues, has dashed hopes for a post-holiday recovery in demand among Turkish players for now...
The global petrochemical sector stands at a turning point. Right after the US’s recent imposition of steep tariffs, both China and the EU have retaliated with countermeasures, further escalating tensions. In stark contrast, Southeast Asian nations, particularly Vietnam, Malaysia, Thailand, and Indonesia have signaled willingness to deepen economic ties with the US. India has also taken a cooperative stance, refraining from retaliatory tariffs and even pursuing deeper trade ties...
PVC markets in Asia have shifted into a softening mode, dashing earlier bullish expectations for prices to extend their recovery after a prolonged downtrend. The shift comes as the US imposes sweeping tariffs on imports from across the globe, dampening sentiment and demand outlook across major Asian markets...
Despite sluggish global demand, persistent oversupply, and rising trade tensions, China continues to ramp up its PP and PE capacities. The first quarter of 2025 and April have already seen a wave of plant start-ups, reflecting the country's long-term strategy to boost petrochemical self-sufficiency, even in the face of ongoing market challenges. However, as the US-China trade war intensifies, questions loom over how these new tariffs will affect China’s ability to maintain its aggressive expansion plans...
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