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...
Regional players have been wrapping up their January PVC deals mostly with reductions of €50/ton, matching the half of the ethylene drop. As the month draws to a close, voices for a potential stabilization in February start to emerge on the sellers’ side after 9 straight months of drops...
Polyolefin prices moved further north as 2023 kicked off, with suppliers receiving good demand from their customers for their limited volumes, particularly in the first half of January. Players have already started to discuss the February outlook amid indications from global outlets. They mainly expect markets to retain their strength due to the waning supply in Turkey...
In China, import PP prices have been on a stable to firmer note since the middle of December 2022 and hit the highest levels since August 2022 based on ChemOrbis data. While limited overseas supply has been cited as the major factor driving prices higher, low sales pressure at home amid producers’ reduced run rates as well as the appreciating yuan have also contributed to the trend...
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