January 14 Plastics Market Forecast

As Middle East tensions eased, investors shifted their focus to lackluster seasonal demand, and international oil prices fell more than 1% on Monday. February WTI crude oil futures fell 0.96 USD to settle at 58.08 USD per barrel. March Brent crude oil futures closed 0.78 USD lower at 64.2 USD per barrel.

Yesterday the market continued its trend of softening within a stable range. Linear futures moved upward, petrochemical producers currently kept prices steady, market participants' sentiment fluctuated little, traders held a strong wait-and-see attitude, and mainly shipped goods in line with market conditions. Downstream demand showed no obvious improvement, and there was no fundamental driver for a better market. Market reference: Shunde market adjusted partially, Daqing 5000S at 7,550-7,600 yuan/tonne excluding tax; Suzhou market quotes were broadly stable with minor changes, Yangzi 7042 at 7,450 yuan/tonne; Chongqing market quotes were broadly stable with minor changes, Shenhua 2426H at 7,900-7,950 yuan/tonne.

Today's forecast: The market is expected to show a consolidating trend today.

Yesterday the market maintained a consolidating trend. As the news front remained bearish and effective transactions followed up slowly, unease in the market remained high, most traders took a wait-and-see approach to shipments, and actual transactions were poor. Downstream factories had limited capacity to consume resources, and end-user demand continued to show no good performance, which remained the main factor hindering market development. Market reference: Shunde market prices fell, Zhanjiang V30G at 7,500 yuan/tonne; Xi'an market weakness was hard to reverse, Yaneng Chemical S1003 at 7,230 yuan/tonne ex-works; Nanjing market moved lower, Yangzi J340 at 8,500 yuan/tonne.

Today's forecast: The market is expected to remain in a weak consolidating trend today.

PVC market:

Yesterday some prices were lowered. Downstream continued to resist the current price levels and had no intention of stocking up, causing PVC producers' forward pre-sales to fall short of expectations. There were few counteroffers from the market and end users, and actual transactions were negotiated separately. Market reference: Guangzhou market quotes were lowered, with mainstream quotes for ordinary calcium carbide material at 6,850-6,900 yuan/tonne; Changzhou market declined narrowly, with mainstream 5-type calcium carbide material at 6,650-6,850 yuan/tonne; Hangzhou market ran weakly, with 5-type calcium carbide material in the range of 6,630-6,830.

Today's forecast: Market quotes are expected to be mostly stable today, with a few slightly lowered.

Yesterday the market was overall stable. With no clear guidance from the news front and small and medium downstream factories gradually shutting down for holidays, market negotiation activity was thin. Traders lacked interest in stocking up, and negotiations remained quiet. Market reference: Beijing-Tianjin-Hebei market quotes adjusted individually, 500NT at 9,050 yuan/tonne; Dongguan market quotes consolidated within a stable range, Guang 525 at 8,280 yuan/tonne.

Today's forecast: The market is expected to adjust within a narrow range today.

ABS market:

Yesterday market prices fluctuated within a narrow range. As the Lunar New Year approached, traders mainly kept their quotes stable, downstream factories' purchasing demand was moderate, and actual transactions involved concessions. Market reference: Yuyao market was range-bound and wait-and-see, 15A1 at 12,400 yuan/tonne; Dongguan market consolidated narrowly, Taiwan Formosa Chemicals 15A1 at 11,350 yuan/tonne.

Today's forecast: Market prices are expected to be slightly softer within a stable range today.

Yesterday the market was weak and deadlocked. Both polyester raw materials declined narrowly, and cost-side support was weak. Yet the industry continued to operate at a loss, and participants held a price-holding stance. Downstream demand was cautious, factory stocking was nearing its end, and market trading was sluggish. Market reference: East China market water bottle material reference 6,500-6,600; South China market water bottle material reference 6,550-6,650 ex-works; North China market water bottle material reference 6,500-6,600 ex-works.

Today's forecast: The market is expected to fluctuate within a narrow range today, with limited volatility.

PET waste recycling

Yesterday the market was mainly stable. Winter made raw material collection difficult, washing plants gradually went on holiday, and the supply of recycled bottle flakes decreased. As the year-end approached, chemical fiber plants also gradually went on holiday this week, market operating rates declined, end-user demand weakened, participants' enthusiasm for the market was low, and trading was quiet. Market reference: In the East China market, imitation virgin-chip grade white flakes for spinning were around 5,250 yuan/tonne, excluding tax.

Today's forecast: The market is expected to be mainly range-bound today.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354549.html