Dec 11 Plastics Market Outlook: Crude Edges Up as Resin Prices Stay Rangebound

Crude oil futures closed slightly higher on Tuesday, supported by OPEC+'s decision last week to deepen production cuts in 2020, though the China-US trade dispute continued to cloud the demand outlook.

January WTI crude settled up $0.22, or 0.4%, at $59.24 per barrel; February Brent settled up $0.09, or 0.14%, at $64.34 per barrel.

The market mood was soft yesterday, with the trading center edging lower in a narrow range. Linear futures moved weakly, spot traders stayed cautious, and shipment offers softened slightly. Downstream factories kept purchasing on demand, leaving market activity quiet. Market reference: Changzhou quotations were steady, with Zhenhai

7042 at 7,650 yuan/tonne; Linyi prices declined, Daqing 2426H at 8,230 yuan/tonne; Shanghai offers weakened, Shanghai Petrochemical Q281 at 8,100-8,150 yuan/tonne.

Today's forecast: quiet consolidation is expected.

The market stayed weak yesterday, with intraday quotations consolidating and more declines than gains. Lower-opening PP futures weighed on sentiment, actual trading remained poor, most traders had limited confidence, and many continued to ship at discounts. Downstream factories maintained small-lot restocking and bought only as needed, so overall trading was poor. Market reference: Ningbo prices drifted lower, Ningbo Fuji

S1003 at 8,100 yuan/tonne; Hebei prices moved down, Yanchang EPS30R-B at 8,950 yuan/tonne; Xiamen adjusted lower, Fujian Union T30S at 8,400 yuan/tonne.

Today's forecast: prices are expected to fluctuate in a narrow range.

PVC market:

Yesterday's PVC market digested recent movements, with some quotations fluctuating narrowly. Low-level futures pressured the market, and traders actively offered discounts to encourage deals. Downstream buying interest remained unclear, limiting shipments. Market reference: some Qilu Chemical City materials were raised, calcium carbide material

Type 5 material tax-inclusive mainstream reference around 7,055-7,070 yuan/tonne ex-works pickup; a few Guangzhou materials edged up, with ordinary calcium carbide material mainstream at 7,320-7,430 yuan/tonne; Hangzhou was mostly consolidating, with Type 5 calcium carbide material at 7,120-7,250 yuan/tonne.

Today's forecast: narrow-range volatility with some loosening is expected.

Prices yesterday rose more than fell, showing an overall firm tone. Monday's ex-works price increases lifted traders' inventory costs. Tight supply for some grades had not yet improved, giving traders some intention to push prices higher. However, small and medium downstream buyers purchased only for essential needs, so actual volumes were limited. Market reference: Shunde quotations rose steadily,

PG33 at 10,400 yuan/tonne; Ningbo quotations consolidated in a narrow band, CITIC 525 at 9,050 yuan/tonne; Yuyao quotations moved slightly in places, 118 at 9,900 yuan/tonne.

Today's forecast: the market is expected to move forward in narrow-range consolidation.

ABS market:

ABS trading was generally flat yesterday, with local quotations moving up or down. Traders had modest confidence in the outlook and mostly continued to follow the market. Downstream buying remained need-based, and overall trading was lackluster. Market reference: Dongguan quotations were mixed, Delta

5000 fell 30 yuan to 10,920 yuan/tonne; Ningbo quotations rose steadily, 0215A at 12,200 yuan/tonne; Yuyao quotations moved slightly in places, 0215A at 12,250 yuan/tonne.

Today's forecast: the market is likely to remain in narrow-range slight movement.

The market center consolidated within a range yesterday. Both polyester raw materials fluctuated narrowly, cost-side changes were limited, and bottle chip factories quoted steadily. Traders mainly followed the market, downstream buying interest was moderate, and cautious waiting dominated, leaving trading quiet. Market reference: East China water bottle material reference

6,400-6,500; South China water bottle material reference 6,450-6,500 ex-works pickup; North China water bottle material reference 6,400-6,500 ex-works pickup.

Today's forecast: narrow-range fluctuations are expected.

PET scrap recycling

Prices ran in a consolidating manner yesterday. Winter reduced scrap collection, recycled bottle flake supply stayed tight, washing plants operated at moderate rates, and low-price selling interest was low. End-use demand showed no clear improvement, recycled chemical fiber producers still shipped slowly, raw material buying was mainly on demand, and on-site trading was light. Market reference: East China imitation-polyester-grade machine-ready white flakes at

about 5,050 yuan/tonne, tax excluded.

Today's forecast: the market may consolidate with a firm bias.

—This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354179.html