March 4 Plastics Market Forecast

OPEC+ may cut output further, and international oil prices once rose sharply during the session. However, analysts believe that a Fed rate cut is not necessarily a positive signal, and the G7 finance ministers' meeting did not set out measures to stimulate the economy. WTI eventually narrowed its gains, while Brent closed slightly lower. The April WTI crude oil futures contract rose 0.43 USD to settle at 47.18 USD per barrel. The May Brent crude oil futures fell 0.04 USD to settle at 51.86 USD per barrel.

The market moved upward yesterday. Linear futures rose continuously, supporting the spot market, and combined with higher ex-works prices from Sinopec and PetroChina, traders actively quoted higher and shipped goods, with actual transactions acceptable. Downstream end users showed a lukewarm buying atmosphere, and overall trading was moderate. Market reference: quotations in the Chongqing market followed the rise, Chuanhua

7042 was quoted at 6,950 yuan/tonne; prices in the Suzhou market were consolidated, with Yangba 2426H in short supply referenced at 8,050 yuan/tonne; the Dongguan market was range-bound, with Guangzhou 7042 at 6,600 yuan/tonne excluding tax.

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

The market saw slight consolidation yesterday. Polypropylene futures opened higher, supporting the market, and petrochemical inventories continued to decline, boding well for the outlook. Traders on the floor had a fair operating sentiment and mainly focused on active shipments. Downstream response was lukewarm, with caution about buying at high prices, and actual trading was moderate. Market reference: some prices in the Zhengzhou market edged up, Luoyang Petrochemical

T30S was quoted at 6,950-7,000 yuan/tonne; a few prices in the Changzhou market rose slightly, with Daqing Refining & Chemical EPS30R at 7,650 yuan/tonne; prices in the Guangzhou market moved up, with Ningxia Baofeng L5E89 at 7,130 yuan/tonne.

Today's forecast: the market is expected to show a volatile trend today.

PVC market:

Prices were mainly stable yesterday, with transactions mostly small-volume at low prices, and the overall trading atmosphere was quiet. Ethylene-based producers lowered actual transaction prices again to promote shipments. Currently, under the dual pressure of inventory and costs, and with downstream demand difficult to follow up,

the PVC market is under considerable pressure. Market reference: the Hebei market saw limited fluctuation, with calcium carbide-based grade 5 material referenced at around 6,120-6,150 yuan/tonne delivered; the Hangzhou market changed little, with mainstream spot calcium carbide-based grade 5 referenced at 6,200-6,350 yuan/tonne ex-works pickup; the Changzhou market moved lower, with mainstream grade 5 calcium carbide-based prices at around 6,160-6,350 yuan/tonne.

Today's forecast: the market is expected to move sideways today, with stable quotations.

The market saw mixed gains and losses yesterday, ranging

50-350 yuan/tonne, with actual deals negotiable. Affected by the sharp rise in crude oil, some standard grades stopped falling and rose slightly, while high-end grades saw some catch-up declines. The market focused on digesting inventory, and there were reports of discounted low-price shipments. Market reference: reference prices in the Shantou market moved up, with Xinghui 118 at 7,920 yuan/tonne; quotations in the Dongguan market were volatile and range-bound, with Zhenjiang Chimei PG33 at 8,780 yuan/tonne.

Today's forecast: mainstream market prices are expected to stabilize today, with isolated volatile adjustments.

ABS market:

Prices rose and fell yesterday. Petrochemical plant inventories remained high, with unabated pressure. Traders on the market had a fair operating sentiment, and actual trading was moderate. Market reference: quotations in the Dongguan market firmed up, Ningbo Formosa

15E1 was quoted at 10,350 yuan/tonne; quotations in the Shantou market rose across the board, with Jilin Chemical 150 at 10,300 yuan/tonne.

Today's forecast: the market is expected to be broadly stable with minor moves today, with a rebound from oversold levels in some regions.

Prices edged up yesterday. International oil prices rebounded, and the two polyester raw materials fluctuated on a firmer note, strengthening cost support. Some bottle chip producers raised their quotations

by 50 yuan/tonne, and the market's bargaining center edged up, with the overall trend warming. Downstream producers restocked on demand and mainly stayed cautious and watchful, with a moderate trading atmosphere. Market reference: water bottle material prices in the East China market were 6,100-6,200; water bottle material prices in the South China market were 6,100-6,250 ex-works pickup; water bottle material prices in the North China market were 6,100-6,200 ex-works pickup.

Today's forecast: the market is expected to run steady to firm today.

PET scrap recycling

The market consolidated on a weaker note yesterday, with light trading. The number of companies resuming operations on the floor was limited, market operating rates stayed at a low level, recycling of dirty bottles was difficult, and the supply of recycled bottle flakes was tight. End-user demand was sluggish, chemical fiber plants shipped slowly, and their willingness to purchase raw materials at high prices was low. On-floor trading was quiet, with few actual deals. Market reference: white flakes for machine use at imitation large-scale chemical fiber grade in the East China market were at

around 5,250 yuan/tonne.

Today's forecast: the market is expected to be broadly stable with minor moves today.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354693.html