March 25 Plastics Market Forecast

As the United States is expected to roll out a

2-trillion-US-dollar economic assistance plan, the resulting boost eased some — but not all — concerns about the sharp drop in demand caused by the coronavirus pandemic. International crude oil futures closed higher on Tuesday, rising for a second consecutive trading day, but off the intraday high. The May WTI crude oil futures contract closed up 0.65 US dollars, or 2.8%, at a settlement price of 24.01 US dollars per barrel. May Brent crude oil futures rose 0.12 US dollars, or 0.4%, with a settlement price of 27.15 US dollars per barrel.

Yesterday the market sentiment was relatively weak, and prices partly continued to fall. Linear futures fluctuated lower, petrochemical ex-factory prices partly continued to be lowered, traders were pessimistic, and some transactions continued to offer discounts. Terminal demand was sluggish, factories took few cargoes, and transactions showed little sign of increasing in volume. Market reference: Shunde market prices adjusted narrowly, Guangzhou

2001 at 6,380-6,400 yuan/ton excluding tax; Chongqing market quotations consolidated narrowly, Sichuan Chemical 7042 at 6,400-6,450 yuan/ton; Anhui market fell slightly, Yangzi 5000S at 7,050 yuan/ton.

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

Yesterday the market mainly ran weak. Polypropylene futures moved weakly downward, some petrochemical companies continued to cut ex-factory prices, on-site spot goods basically maintained weak range-bound fluctuations, traders continued to offer discounts to move goods, downstream demand did not improve notably, mainly modest replenishment at low prices, and transaction follow-through was relatively weak. Market reference: Shunde market prices fell slightly, Zhanjiang

V30G at 6,600 yuan/ton; Xi'an market ran at a low level, Yaneng Chemical EPS30R at 7,000 yuan/ton; Tianjin market quotations fell back, North China Petrochemical T30S at 6,600 yuan/ton.

Today's forecast: today's market prices are expected to continue their downward trend.

PVC market:

Yesterday market quotations continued to move lower. Some East China ethylene-based material saw relatively large declines, with drops reaching

200 yuan/ton, and large downstream customers expect further declines. Inquiries were scarce and the market was fairly quiet. Market reference: Hebei market quotations were lowered, calcium carbide process type 5 material referenced at around 5,850-5,890 yuan/ton delivered; Hangzhou market quotations fell, mainstream calcium carbide process type 5 spot referenced at 5,750-5,900 yuan/ton ex-works pickup; Changzhou market quoted at multiple prices, mainstream type 5 calcium carbide process price at around 5,730-5,900 yuan/ton.

Today's forecast: today's market is expected to be weak and adjusted downward.

Yesterday market prices fell. Recently, the sharp decline in upstream styrene and the large cuts in ex-factory prices and other bearish factors led traders to mainly cut prices to move goods, and the center of negotiation moved down accordingly. Market inquiry atmosphere was average, with deals made through negotiation. Market reference: Shantou market quotations continued to fall, Xinghui

118 at 7,050 yuan/ton, excluding tax; Dongguan market reference prices fell back, Cheng Zhenjiang Chi Mei PG33 at 8,120 yuan/ton, excluding tax.

Today's forecast: today's market may continue to lower quotations.

ABS market:

Yesterday market prices continued to decline steadily. Bearish sentiment in the market remained strong, market traders offered narrow discounts in line with the market, downstream procurement followed cautiously, and transactions were light. Market reference: Dongguan market quotations were mixed, Ningbo Formosa

15E1 at 9,600 yuan/ton, excluding tax; Shantou market decline was hard to stop, Jilin Chemical 150 at 9,500 yuan/ton, excluding tax.

Today's forecast: today's market is expected to continue fluctuating downward.

Yesterday the market was weak and in a standoff. The Federal Reserve announced new facilities to support the economy, and international oil prices closed slightly higher, yet support for polyester raw materials was limited. Most bottle chip manufacturers' quotations stabilized, with a few lowering slightly. Overall downstream demand was average, mainly just-in-time needs, and on-site trading atmosphere remained quiet. Market reference: East China market water bottle material prices at

5,250-5,400; South China market water bottle material prices at 5,300-5,400 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 broadly stable with minor changes.

PET recycled material

Yesterday the market mainly ran at low levels. Cost support was insufficient, the virgin material market remained sluggish, further suppressing the recycled market atmosphere. On-site raw material recovery was slow, washing plants had low willingness to sell at low prices, and the supply of recycled bottle flakes was relatively tight. Affected by the international pandemic, some foreign trade orders were returned, inventory pressure on recycled chemical fiber products increased, chemical fiber plants absorbed goods at lows and purchased raw materials as needed, with a few suspending receipt of goods. Market reference: East China market imitation large-scale chemical fiber machine-grade white flakes at

4,200-4,300 yuan/ton.

Today's forecast: with supply and demand in a standoff, the market is expected to run weak today.

——This article is reprinted from China Packaging Network (pack.cn), original link: http://news.pack.cn/show-354946.html