December 11 Plastics Market Forecast

International crude oil futures edged slightly higher on Tuesday, driven by last week's

OPEC+ decision to deepen production cuts in 2020, but the China-US trade dispute continued to cloud the demand outlook. January WTI crude oil futures rose $0.22, or 0.4%, to settle at $59.24 per barrel. February Brent crude oil futures rose $0.09, or 0.14%, to settle at $64.34 per barrel.

Yesterday the market atmosphere was on the weak side, with the trading center drifting narrowly lower. Linear futures fluctuated weakly, spot traders were cautious, and shipment offers edged down slightly. Downstream factories showed no change in purchasing strength, basically maintaining a buy-on-demand strategy, and the market trading atmosphere was quiet. Market reference: quotations in the Changzhou market were consolidating, Zhenhai

7042 at 7,650 yuan/tonne; prices in the Linyi market declined, Daqing 2426H at 8,230 yuan/tonne; quotations in the Shanghai market softened, Shanghai Petrochemical Q281 at 8,100-8,150 yuan/tonne.

Today's forecast: the market is expected to see quiet consolidation today.

Yesterday the market remained weak, with quotations consolidating during the session and more declines than gains. Polypropylene futures opened lower, weighing on market sentiment, and combined with still-poor actual trading, most traders had limited confidence and many continued to ship at discounts. Downstream factories maintained small-lot restocking, buying only as needed, and overall trading was poor. Market reference: prices in the Ningbo market drifted lower, Ningbo Fuji

S1003 at 8,100 yuan/tonne; prices in the Hebei market moved down, Yanchang EPS30R-B at 8,950 yuan/tonne; the Xiamen market adjusted lower, Fujian Union T30S at 8,400 yuan/tonne.

Today's forecast: prices are expected to fluctuate in a narrow range today.

PVC market:

Yesterday the market digested and consolidated, with some quotations fluctuating in a narrow range. Futures oscillating at lows put pressure on the market, and traders actively offered discounts to ship and stimulate deals. Downstream demand showed no clear intention to take up cargo, which limited shipments. Market reference: some materials in the Qilu Chemical City market were raised, calcium carbide material

Type 5 material main tax-inclusive reference at around 7,055-7,070 yuan/tonne ex-works pickup; a few materials in the Guangzhou market edged up, with mainstream ordinary calcium carbide material quoted at 7,320-7,430 yuan/tonne; the Hangzhou market was mainly consolidating, with Type 5 calcium carbide material in the range of 7,120-7,250 yuan/tonne.

Today's forecast: the market is expected to fluctuate in a narrow range today, with some loosening.

Yesterday market prices saw more gains than declines, with an overall firm tone. Influenced by Monday's upward revision of ex-works prices, traders' inventory costs rose. Coupled with no improvement in the tight supply of some grades, traders had some intention to push prices up. However, small and medium downstream players purchased only for essential needs, so actual transaction volumes were limited. Market reference: quotations in the Shunde market rose steadily,

PG33 at 10,400 yuan/tonne; quotations in the Ningbo market consolidated in a narrow range, CITIC 525 at 9,050 yuan/tonne; quotations in the Yuyao market moved slightly in places, 118 at 9,900 yuan/tonne.

Today's forecast: the market is expected to move forward in narrow-range consolidation today.

ABS market:

Yesterday the market was generally flat, with quotations in some areas moving up or down. Traders had modest confidence in the outlook and mainly continued to follow the market in their operations. Meanwhile, downstream players still purchased on demand, and overall trading performance was lackluster. Market reference: quotations in the Dongguan market were mixed, Delta

5000 fell 30 yuan to 10,920 yuan/tonne; quotations in the Ningbo market rose steadily, 0215A at 12,200 yuan/tonne; quotations in the Yuyao market moved slightly in places, 0215A at 12,250 yuan/tonne.

Today's forecast: the market is likely to stay in narrow-range slight movement today.

Yesterday the market center consolidated within a range. Both polyester raw materials fluctuated narrowly, cost-side changes were limited, and bottle chip factories quoted steadily. Traders mainly followed the market in their operations, downstream buying interest was moderate, with mostly cautious waiting, and the market trading atmosphere was quiet. Market reference: East China market water bottle material reference

6,400-6,500; South China market water bottle material reference 6,450-6,500 ex-works pickup; North China market water bottle material reference 6,400-6,500 ex-works pickup.

Today's forecast: the market is expected to fluctuate in a narrow range today.

PET scrap recycling

Yesterday market prices ran in a consolidating manner. Scrap collection decreased in winter, supply of recycled bottle flakes was tight, washing plants operated at moderate rates, and the intention to ship at low prices was not high. End-user demand showed no clear improvement, recycled chemical fiber producers still shipped slowly, raw material procurement was mainly on demand, and on-site trading was light. Market reference: East China market imitation-polyester-grade machine-ready white flakes at

about 5,050 yuan/tonne, tax excluded.

Today's forecast: the market may consolidate with a firm bias today.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354179.html