Import PVC prices in India, China, and SE Asia witnessed relentless hikes from mid-May to late December last year amid a global supply crunch. This longest-ever price rally lost speed in January and prices corrected from record highs. The uptrend was soon renewed in early February while it has recently turned back into a roaring rally in the aftermath of weather-driven shutdowns in the US...
During China’s week-long absence due to the Lunar New Year holiday in mid-February, the tightness-driven hikes in global PP and PE markets were reinforced by higher energy values as well as winter-related supply disruptions in the US Gulf...
The US polymer exports faced serious challenges in the last quarter of 2020, largely as a result of multiple shutdowns and force majeure declarations that followed the most active hurricane season since 2017. Reduced production and shipping difficulties have impacted the competitiveness of US exports in global markets...
European PP and PE markets are on the verge of posting supply-driven increases moving into March, which would mark the 5th straight month of hikes. The bullish rally, which gained momentum from January onwards, is not expected to take a breather as another round of 3-digits hikes are awaited...
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