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...
Import prices of PP and PE in India have risen from previous month’s levels as tightness in supplies, which has resulted in oversold positions, has prevailed over buyer resistance. Indian traders expect the bullishness to continue in the near term, riding on the easing of COVID curbs in China and the infrastructure sops expected in the Indian budget ahead...
Asian PVC markets were holding on to previous levels during the week as most markets in the region were celebrating the Lunar New Year holidays but the sentiment stayed markedly bullish, as supplies were tight. There are expectations of availability being squeezed further as China reopens, with Beijing having lifted most of the COVID restrictions, raising demand within the local market...
Although global crude oil prices tumbled during the first week of 2023, they eventually found their footing. Oil futures settled higher on Friday, marking the second weekly gain on optimism over Chinese demand following the reopening...
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