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Margin recovery priorities outweigh supply imbalances in European PVC markets

European PVC markets are experiencing a resurgence in February, driven by strategic margin-enhancement efforts, as several key players have implemented price increases of up to €40-50/ton. This followed a period of modest price concessions by late Q4 given excess supplies, with February ethylene settlement providing suppliers with the leverage to raise PVC offers...

Asian PVC demand stagnant; recovery hopes shift to end of Q1

The Indian budget has failed to provide a bullish push to Asian import PVC markets, with stability reigning in India and Southeast Asia for the fourth consecutive week and in China for the third week in a row. Despite the conclusion of the Chinese New Year holidays, bullish sentiment remains elusive as buying activity continues to stagnate, while hopes for a demand recovery now shift to late Q1...

Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?

South Korea’s petrochemical sector has been grappling with challenges amid a global economic downturn, as a result of which major companies continue to report either slumping profits or even widening losses in both their quarterly and annual results. The world’s one of largest PP, PE exporters has been buckling under declining demand, oversupply and lack of competitive feedstocks, highlighting the urgent need for structural reforms given major profitability problems...

China’s PP, PE markets face post-holiday supply surge and tepid demand

In China, PE and PP markets mainly stayed rangebound in the first week after the Lunar New Year holiday. Offers were few and far between, and the available ones mostly experienced rollover attempts from sellers amid the prevailing holiday lull. In the meantime, market sentiment leaned to the weak side in the face of high supply and sluggish demand, casting uncertainty over the near-term outlook...

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