December 20 Plastics Market Forecast

Supported by news of a decline in U.S. crude oil inventories the previous day and the continued easing of China-U.S. trade tensions, U.S. crude oil futures rose to a three-month high on Thursday in light trading ahead of Christmas.

January WTI crude oil futures settled up 0.29 dollars, or 0.5%, at 61.22 dollars per barrel. February Brent crude oil futures rose 0.37 dollars, or 0.6%, to settle at 66.54 dollars per barrel, the sixth consecutive trading day of gains.

The market was in weak consolidation yesterday, with light trading. Linear futures performed poorly, petrochemical enterprises lowered prices in some regions, traders held a wait-and-see attitude, most offers moved lower, and only a few tight-supply resources edged up slightly. Downstream factories showed low enthusiasm for taking cargo, a wait-and-see mentality dominated, and the current sluggish trading is unlikely to improve. Market reference: prices in Wuhan were stable, Shenhua

2426H was quoted at 8000-8100 yuan/tonne; the Guangzhou market eased, with Guangzhou 7042 quoted at 7600-7650 yuan/tonne; quotes in Changzhou were lowered, with Lanzhou Petrochemical 5000S quoted at 8050 yuan/tonne.

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

The mainstream market pattern was unchanged yesterday, with most prices falling. Polypropylene futures remained weak, petrochemical pricing was partly lowered, cost support in the market continued to loosen, traders remained clearly eager to ship, and quotes continued to trend downward amid volatility. Downstream follow-through on actual deals was moderate, and factories basically purchased on a need-to basis to maintain normal production. Market reference: prices in Shantou fell, Fujian Refining

1080K was quoted at 7630 yuan/tonne; the Chengdu market continued to move lower, with Sichuan L5E89 quoted at 7850-7900 yuan/tonne ex-warehouse; prices in Hebei were weak, with Dushanzi K8003 quoted at 9050 yuan/tonne.

Today's forecast: prices are expected to change little today.

PVC market:

The market was stable yesterday, with a few slight declines. The overall wait-and-see atmosphere was fairly strong. Traders mostly shipped in step with the market while waiting for downstream inquiries, and quotes consolidated within a narrow range. Downstream factories purchased cautiously and were unwilling to place orders rashly, with few actual transactions. Market reference: offers in Zhengzhou held steady, calcium carbide method

Type 5 material, tax-exclusive, was mainly quoted at around 6550-6630 yuan/tonne; the Shantou market changed little, with mainstream Type 5 quotes at 7330-7450 yuan/tonne; offers in Guangzhou were slightly lowered, with mainstream ordinary calcium carbide material quoted at 7250-7350 yuan/tonne; offers in Changzhou ran steadily, with mainstream Type 5 calcium carbide material at 7100-7200 yuan/tonne.

Today's forecast: the market is expected to consolidate with a weak bias today.

The market continued to run steadily yesterday, with a few quotes moving lower. Downstream factories purchased little, and transactions and shipments in the market remained moderate. With trading sentiment subdued, most traders held a cautious attitude. Market reference: quotes in Shunde slipped from a stable level,

PG33 was quoted at 9900 yuan/tonne; most quotes in Ningbo held steady, with CITIC 525 quoted at 9100 yuan/tonne; quotes in Yuyao were generally steady with a few small declines, and 118 was quoted at 9900 yuan/tonne.

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

ABS market:

The market ran steady with consolidation yesterday, and some quotes fluctuated. Actual transactions in the market were less than ideal, with buyers and sellers somewhat deadlocked. Given the current trend, downstream players mainly watched, and the pace of market shipments was moderate. Market reference: quotes in Dongguan fell from a stable level, Taiwan

757 was quoted at 11,680 yuan/tonne; quotes in Ningbo were broadly steady with minor movements, with 0215A quoted at 12,250 yuan/tonne; quotes in Yuyao were steady with some local fluctuations, with 0215A quoted at 12,350 yuan/tonne.

Today's forecast: the market is expected to be steady with minor movements today.

The market was mainly in consolidation yesterday. Crude inventories declined,

PTA gave back gains, ethylene glycol fluctuated at high levels, the PET market moved sideways, producers held prices firm, and market sentiment cooled. With cost support weakening, traders' offers moved toward the low end, downstream buying follow-through was moderate, and market trading sentiment was light. Market reference: water bottle material in East China was around 6550-6800; water bottle material in South China was around 6600-6850 self-pickup; water bottle material in North China was around 6550-6750 self-pickup.

Today's forecast: the market is expected to move sideways today.

PET waste recycling

The market changed little yesterday, with the price center mainly adjusting within a narrow range. Raw material supply was tight, recycled bottle flake supply became tighter, and washing plants were reluctant to sell at low prices. The recycled chemical fiber market improved slightly, chemical fiber plants shipped at a moderate pace and appropriately raised raw material purchasing offers to attract supply, and overall trading in the market was not brisk. Market reference: machine-processed white flakes imitating major chemical fiber in East China were at

around 5150 yuan/tonne, tax-exclusive.

Today's forecast: the market is expected to trend sideways today.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354328.html