March 24 Plastics Market Forecast

As countries around the world introduced measures restricting travel to curb the spread of the novel coronavirus pandemic, which dealt a heavy blow to fuel demand, US crude oil futures rose on Monday, while US gasoline plunged by more than

30%, hitting a record low. The May WTI US crude oil futures contract closed up 0.73 US dollars, or 3.22%, at a settlement price of 23.36 US dollars per barrel. May Brent crude oil futures rose 0.05 US dollars, or 0.26%, with a settlement price of 27.03 US dollars per barrel.

Yesterday the market performed poorly, with most prices moving down. Linear futures opened lower and fluctuated, traders were pessimistic, most quotations moved down, only a few resources in tight supply rose slightly, and overall transactions were poor. Downstream product enterprises purchased cautiously, few entered the market, and overall wait-and-see sentiment was relatively strong. Market reference: Shunde prices loosened and moved down, Guangzhou

7042 at 6,350-6,400 yuan/ton excluding tax; Xinjiang market quotations weakened, Dushanzi 5502 at 7,450 yuan/ton; Chengdu market quotations were weak, Sichuan Chemical 7042 at 6,450-6,500 yuan/ton.

Today's forecast: today's market is expected to fluctuate weakly.

Yesterday market prices were partly lowered. Polypropylene futures opened lower and fluctuated, some petrochemical companies lowered ex-factory prices, cost support weakened further, traders had a relatively strong wait-and-see atmosphere, and quotations partly followed the decline. Downstream still made just-in-time replenishment, and transactions showed no notable improvement. Market reference: Chongqing market quotations fell, Ningmei

1102K at 6,600 yuan/ton; Wuhan market was weak and lower, Dushanzi K8003 at 7,650-7,700 yuan/ton; Hangzhou market consolidated at low levels, Fude T30S at 6,900 yuan/ton.

Today's forecast: today's market is expected to remain weak.

PVC market:

Yesterday market prices loosened, with most prices lowered. Downstream continued just-in-time procurement, overall market transactions were poor, and the market mainly sold at multiple prices. Market reference: Changzhou market quotation reference,

mainstream type 5 calcium carbide process prices at around 5,850-6,000 yuan/ton; Hangzhou market continued to move lower, mainstream calcium carbide process type 5 spot referenced at 5,850-6,000 yuan/ton ex-works pickup.

Today's forecast: today's market is expected to be stable with some adjustments.

Yesterday the market was weak and stabilizing, with local declines. Affected by the sharp drop in upstream styrene, buyers' risk-averse wait-and-see sentiment was stronger. Traders mostly waited and watched, and actual deals were scarce. Market reference: Shantou market quotations generally fell, Xinghui

118 at 7,050 yuan/ton; Dongguan market reference prices slid, Zhenjiang Chi Mei PG33 at 8,160 yuan/ton.

Today's forecast: today's market is expected to be mainly weak and stable.

ABS market:

Yesterday the market ran weak, with prices continuing to fall. Market sentiment was pessimistic, downstream procurement followed just-in-time needs, traders mostly actively offered discounts to move goods, and actual deals were negotiable. Market reference: Shantou market trading atmosphere was quiet, Jilin Chemical

150 at 9,600 yuan/ton, Daqing 750A at 9,600 yuan/ton; Dongguan market cut prices to move volume one after another, Ningbo Formosa 15E1 at 9,440 yuan/ton.

Today's forecast: today's market is expected to fluctuate weakly.

Yesterday the market was narrowly weak. Polyester raw materials both fell back, the market was bearish, cost support weakened, and some bottle chip manufacturers lowered quotations by

50-100 yuan/ton, with the center of market negotiation moving lower. Downstream inquiries were sporadic, mainly just-in-time replenishment, and overall on-site trading was poor. Market reference: East China market water bottle material prices at 5,250-5,450; South China market water bottle material prices at 5,300-5,450 ex-works pickup; North China market water bottle material prices at 5,300-5,400 ex-works pickup.

Today's forecast: today's market prices are expected to be weak and range-bound.

PET recycled material

Yesterday the market trend was weak, with prices falling in some areas. Bottle recovery was slow, washing plants had low willingness to sell at low prices, and the supply of recycled bottle flakes was relatively tight. Downstream recycled chemical fiber market production and sales were under pressure, manufacturers' product shipments were slow, chemical fiber plants resisted high-priced raw materials and mainly purchased at reduced prices, and on-site trading was light. Market reference: East China market imitation large-scale chemical fiber machine-grade white flakes at

4,500-4,600 yuan/ton.

Today's forecast: with both supply and demand light, the market may run in a wait-and-see mode today.

——This article is reprinted from China Packaging Network (pack.cn), original link: http://news.pack.cn/show-354912.html