Crude Oil Gains Meet Cautious Sentiment: December 9 Plastics Market Forecast

OPEC+ agreed to deepen its production cuts, sending international crude oil futures sharply higher on the 6th. January WTI settled up $0.77, or 1.3%, at $59.2/bbl, while Brent settled up $1, or 1.6%, at $64.39/bbl.

On Friday, the market mood was subdued, with prices broadly steady and slightly weaker. Linear futures moved in a tight band, petrochemical producers held offers unchanged, and traders, uncertain about the outlook, stayed cautious while waiting for a clear market trigger. Downstream plants bought only as needed, with little improvement in trading. Market reference: Xiamen prices softened, and Fujian

7042 was quoted at 7,450-7,500 yuan/mt; Hangzhou was mostly stable with minor moves, where Secco 5502 stood at 7,700 yuan/mt; Tianjin edged lower, with Daqing 2426H at 8,200 yuan/mt.

Today's forecast: prices are likely to remain rangebound.

On Friday, prices were largely stable with limited changes. Polypropylene futures hovered at low levels, capping sentiment; sellers followed the market and actively moved cargo, while downstream factories showed weak buying interest. Actual deals struggled to gain traction, and any upside still lacked fundamental support. Market reference: parts of Ningbo were soft, and Shaoxing Sanyuan

T30S was quoted at 8,300 yuan/mt; Shunde saw little adjustment, with Hainan V30G at 8,200 yuan/mt; Lanzhou offers consolidated, with Dushanzi EPS30R at 8,900 yuan/mt.

Today's forecast: the market is expected to stay in consolidation mode.

PVC market:

Last Friday, PVC moved within a narrow range, and some producers slightly lowered quotations. Futures extended their decline; traders kept most offers stable, with only local easing. Downstream demand remained cautious, factories bought mainly for rigid needs, and actual transactions were limited. Market reference: Hebei offers were stable, calcium carbide process

type 5 material was quoted at 6,400-6,480 yuan/mt delivered, tax excluded; Shantou consolidated in a narrow band, with mainstream type 5 at 7,320-7,400 yuan/mt; Hangzhou changed little, with type 5 calcium carbide material at 7,120-7,220 yuan/mt.

Today's forecast: narrow-range fluctuation is expected, with some offers possibly easing.

Last Friday, the overall market was fairly flat, with only minor local movements. Feedstock styrene continued to probe higher, yet imported cargo weighed on the market, leaving traders short of upward momentum and focused on steady shipments; the trading atmosphere was ordinary. Market reference: Shunde quotations firmed, and

PG33 was quoted at 9,800 yuan/mt; Dongguan firmed, with Guang 525 at 8,900 yuan/mt; Yuyao was broadly stable with a few minor moves, and 118 was quoted at 9,900 yuan/mt.

Today's forecast: the market may hold a stable-to-consolidating trend.

ABS market:

Last Friday, ABS was generally stable, with some grades adjusting within a narrow range. Trading sentiment stayed light, and traders remained cautious. Downstream demand continued to struggle for improvement, and market confidence stayed weak. Market reference: some Dongguan offers rose, and Tai

757 was quoted at 11,650 yuan/mt; most Ningbo quotations were stable, with 0215A at 12,100 yuan/mt; Yuyao was broadly stable with minor changes, and 0215A was quoted at 12,250 yuan/mt.

Today's forecast: further narrow adjustments remain possible.

Last Friday, prices consolidated in a narrow range. Supported by crude oil gains, the two polyester feedstocks recovered and provided some support; bottle chip producers raised offers slightly in a few cases, and participants maintained a firm-price stance. Downstream demand was cautious, limiting upward momentum, while the overall trading atmosphere remained light. Market reference: East China water bottle material was referenced at

6,300-6,400 yuan/mt; South China water bottle material was referenced at 6,400-6,500 yuan/mt self-pickup; North China water bottle material was referenced at 6,300-6,400 yuan/mt self-pickup.

Today's forecast: prices are expected to be broadly stable with minor moves.

PET scrap recycling

Last Friday, prices in some regions rose by 100 yuan. The virgin material market fluctuated upward, recycled supply was tight, scrap collection remained slow, washing plants held back from selling at low prices, and low-priced cargo gradually left the market. Traders mainly bought on a need basis, end-user demand showed no improvement, recycled chemical fiber producers struggled to ship, raw material buying stayed cautious, and overall trading was lackluster. Market reference: East China white flakes for imitation large-scale chemical fiber on machine were at

around 5,050 yuan/mt, tax excluded.

Today's forecast: the market is expected to fluctuate and consolidate.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354149.html