December 5 Plastics Market Forecast

Because of falling US inventories and expectations that

OPEC would cut production further, international crude oil futures jumped on the 4th. January WTI crude oil futures surged 2.33 USD, or 4.2%, to close at 58.43 USD/barrel. February Brent crude oil futures closed up sharply by 2.18 USD, or 3.6%, at 63 USD/barrel.

Yesterday prices were broadly stable with minor movements. Linear futures fell; fearing a decline, traders mostly sold goods at inverted prices, the actual market center of gravity moved down, and the trading atmosphere was light. Downstream factories operated at limited capacity, few actively entered the market to buy goods, and a market upturn likewise lacked fundamental momentum. Market reference: prices in the Xiamen market adjusted in a narrow range, Daqing

2426K was quoted at 8,200-8,250 yuan/tonne; quotations in the Shanghai market consolidated, Zhenhai 7042 was quoted at 7,680-7,700 yuan/tonne; prices in the Tianjin market fluctuated slightly, Jihua/Daqing/Fushun 7042 was quoted at 7,450 yuan/tonne.

Today's forecast: prices are expected to adjust locally today.

Yesterday the market maintained a fluctuating pattern, with some price adjustments. Polypropylene futures fluctuated at low levels, spot prices in the market consolidated in a narrow range, and traders mainly shipped goods flexibly. Downstream buying sentiment was average, with rigid-demand restocking on dips, and trading remained light. Market reference: the Hangzhou market consolidated in a narrow range, Fude

T30S was quoted at 8,380 yuan/tonne; the Shunde market fluctuated at high levels, China Coal V30G was quoted at 8,150 yuan/tonne; the Wuhan market fluctuated in a narrow range, Yaneng Chemical S1003 was quoted at 8,230 yuan/tonne.

Today's forecast: market offers are expected to be broadly stable with minor movements today.

PVC market:

Yesterday the market mainly fluctuated in a narrow range; the futures market fell sharply, exerting some bearish impact on the market, but producer inventories were low and supply was tight, so most participants stayed on the sidelines. Downstream purchasing intent was not strong, mostly based on need, and the actual trading atmosphere was rather flat. Market reference: offers in the Qilu Chemical City market edged up, calcium carbide material

mainstream reference for type 5 material was around 7,035-7,100 yuan/tonne including tax, self-pickup; offers in the Shantou market eased slightly, mainstream quotations for type 5 were 7,380-7,400 yuan/tonne; prices in the Hangzhou market consolidated, with type 5 calcium carbide material in the range of 7,180-7,250 yuan/tonne.

Today's forecast: the market is expected to consolidate in a narrow range today, with some rises and falls.

Yesterday a few quotations moved slightly within a stable range. Against the backdrop of generally weak demand, the market atmosphere was average. Most participants stayed on the sidelines and actual transactions were few; downstream manufacturers purchased according to need, and market trading was flat. Market reference: quotations in the Shunde market were mainly stable,

PG33 was quoted at 9,350 yuan/tonne; prices in the Dongguan market consolidated slightly, Guang 525 was quoted at 8,550 yuan/tonne; a few quotations in the Yuyao market moved slightly, 118 was quoted at 9,900 yuan/tonne.

Today's forecast: the market is expected to maintain a narrow consolidation pattern today.

ABS market:

Yesterday the market was generally stable, with minor local adjustments. As the trading atmosphere was light, traders adjusted quotations slightly within a stable range and sold goods through negotiation on actual orders. Downstream users mostly stayed on the sidelines, and overall market trading was sluggish. Market reference: some quotations in the Dongguan market rose, Tai

757 was quoted at 11,680 yuan/tonne, Daqing 750A at 11,400 yuan/tonne; quotations in the Yuyao market were broadly stable with minor movements, 0215A was quoted at 12,200 yuan/tonne.

Today's forecast: the market is expected to be mainly stable today, with a few adjustments.

Yesterday the market ran in a stalemate and consolidated.

PTA main contracts fell back, ethylene glycol main contracts fluctuated in a narrow range, cost-side support was average, bottle chip producers held a price-protection stance, and factories had order support. Traders were cautious and operated in line with the market; demand performed flatly, with purchases kept to immediate needs. Market reference: water bottle material in the East China market was referenced at 6,300-6,400; water bottle material in the South China market was referenced at 6,400-6,500 self-pickup; water bottle material in the North China market was referenced at 6,300-6,400 self-pickup.

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

PET scrap recycling

Yesterday prices changed little and the atmosphere was average. As temperatures dropped, scrap collection became difficult, supply decreased, and the supply of recycled bottle flakes was tight. Washing plants held back sales at low prices and mainly shipped goods in line with the market. End-user demand was sluggish, chemical fiber plants sold products slowly, and they mainly purchased raw materials according to need. Market reference: white flakes for imitation large-scale chemical fiber on machine in the East China market stood at

around 5,050 yuan/tonne, excluding tax.

Today's forecast: the market may run weakly today.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354120.html