After Crude Oil Jump, December 5 Plastics Market Forecast: Most Grades Range-Bound

Falling US inventories and expectations that OPEC may cut output further combined to lift crude oil.

International crude futures jumped on the 4th: January WTI climbed $2.33, or 4.2%, to close at $58.43/bbl; February Brent closed $2.18, or 3.6%, higher at $63/bbl.

The plastics market yesterday was mostly stable with only small movements. Linear futures declined, prompting traders worried about further drops to sell at inverted prices; the actual transaction level shifted down and trading was quiet. Downstream plants ran at limited loads, few buyers entered actively, and any upward market momentum still lacked a fundamental driver. Market reference: Xiamen prices adjusted narrowly, Daqing

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

Today's forecast: local price adjustments are expected today.

Yesterday's market stayed range-bound with some price changes. Polypropylene futures fluctuated at low levels, spot prices moved in a narrow band, and traders focused on flexible shipments. Downstream buying interest was ordinary, with rigid-demand purchases on dips, and trading remained light. Market reference: Hangzhou consolidated narrowly, Fude

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

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

PVC market:

PVC yesterday mainly moved within a narrow range. Futures fell sharply, creating some bearish pressure, but low producer inventories and tight supply kept most participants on the sidelines. Downstream buying intent was weak, mostly need-based, and actual trading was flat. Market reference: Qilu Chemical City offers edged up, calcium carbide material

mainstream type 5 material including tax referenced at about 7,035-7,100 yuan/tonne self-pickup; Shantou offers eased slightly, mainstream type 5 at 7,380-7,400 yuan/tonne; Hangzhou prices consolidated, type 5 calcium carbide material at 7,180-7,250 yuan/tonne.

Today's forecast: narrow consolidation with some rises and falls expected today.

Yesterday a few quotations moved within a stable range. With demand generally weak, market sentiment was ordinary. Most participants stayed on the sidelines and actual deals were limited; downstream factories bought only as needed, leaving trading flat. Market reference: Shunde quotations were mainly stable,

PG33 was quoted at 9,350 yuan/tonne; Dongguan prices consolidated slightly, Guang 525 at 8,550 yuan/tonne; Yuyao saw a few minor moves, 118 at 9,900 yuan/tonne.

Today's forecast: the market is expected to remain in narrow consolidation.

ABS market:

ABS was broadly stable yesterday with minor local adjustments. As trading sentiment was light, sellers made small adjustments within a stable range and negotiated actual orders. Downstream users mostly watched from the sidelines, and overall trading was sluggish. Market reference: Dongguan saw some offers rise, Tai

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

Today's forecast: mostly stable with individual adjustments today.

Yesterday the market ran in a stalemate and consolidation.

PTA main contracts retreated, ethylene glycol main contracts moved narrowly, cost support was ordinary; bottle chip producers held a price-protection stance and factories had order support. Traders were cautious and followed the market, demand was flat, and purchases were kept to immediate needs. Market reference: East China water bottle material at 6,300-6,400; South China water bottle material at 6,400-6,500 self-pickup; North China water bottle material at 6,300-6,400 self-pickup.

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

PET scrap recycling

Yesterday prices changed little and sentiment was ordinary. Falling temperatures made scrap collection difficult, reducing supply and leaving recycled bottle flake supply tight. Washing plants held back sales at low prices and mainly shipped according to market conditions. End-use demand was sluggish, chemical fiber plants sold products slowly, and they mainly bought raw materials as needed. Market reference: East China white flakes for imitation large-scale chemical fiber on machine at

around 5,050 yuan/tonne, excluding tax.

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

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