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...
Import PE and PP markets in Egypt started off 2023 with price concessions from suppliers, largely due to tough resistance towards price increase attempts amid weakened activities. Major Middle Eastern producers either rolled over or decreased their offers for PE grades while PP offers for January were down by more than 5% on average from last week...
After having wrapped up a slow year in terms of activities, Middle Eastern PP and PE markets made a weak start to the year. Although most suppliers approached the regional markets either with rollovers or price decreases, some producers used supply issues as leverage to push for increases. However, those prices contrasted strikingly with present demand conditions...
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