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Most Middle Eastern PE suppliers approached the market with steady prices for August this week after the uptrend faltered last month due to declining resin demand. Buyers have slightly lower buy ideas, influenced by volatile upstream costs, sluggish derivative markets, and pervasive liquidity issues in the polymer markets...

Export PVC prices out of China have followed a downtrend for nine weeks, except for a one-week stability observed in mid-June. The weekly average prices for ethylene-based K67 on an FOB China basis have plunged to a three-month low. Notably, the lower end of the price range has fallen below the $700/ton threshold, last seen in late November 2022...

After two months of rising prices, downward pressure on polyolefin prices has returned to the Indian markets, as freight rates have fallen, and monsoon rains have strengthened appreciably. Torrential rains across the Indian subcontinent have led to flash floods and landslides that caused damages to infrastructure as well as loss of lives...

Facing market challenges, cost pressures, and evolving regulations, European petrochemical producers are undertaking strategic reviews to protect margins and ensure profitability. LyondellBasell, who announced a strategic review of the European assets in early May, has detailed the near- term targets recently. Now that the petchem industry rationalization has evidently kicked off, the question is: how many more plants will face closures across Europe?...