Dec 18 Plastics Market Forecast: Crude Rises for a Fourth Day as Linear, PP, PVC, ABS and PET Diverge

Market sentiment was supported by expectations that the China-U.S. trade agreement will

boost oil demand in 2020, helping international crude prices rise more than 1% on Tuesday for a fourth consecutive session. January WTI crude futures settled $0.73, or 1.2%, higher at $60.94 per barrel; February Brent crude futures settled up $0.76, or 1.2%, at $66.1 per barrel.

Yesterday, the market moved only slightly and the trading mood was ordinary. Linear futures were weak and rangebound; traders remained cautious about the outlook and mostly made rational adjustments. Downstream plants showed limited interest in buying, receiving activity was weak, and actual transactions struggled to improve. Market reference: Zhengzhou quotes were steady, Yanshan Petrochemical

100AC was quoted at 8,150 yuan/tonne; Shantou prices were steady, with Maoming 2426K at 7,870 yuan/tonne; Nanjing consolidated in a narrow band, with Yangzi-BASF 2426H at 8,300-8,350 yuan/tonne.

Today's forecast: prices are expected to be largely stable with small movements today.

The weak pattern remained in place yesterday, with some prices lowered. Polypropylene futures turned down again; most traders continued to ship cargo and cut positions, while quotes kept trending lower in choppy trade. Downstream factories showed limited purchasing appetite, demand showed no sign of improvement, and overall trading was light. Market reference: parts of Hangzhou moved lower, Ningbo Fuji

S1003 was quoted at 7,900 yuan/tonne; Hebei prices drifted lower, with Baofeng K8003 at 8,700 yuan/tonne; Shunde prices moved down, with Hainan Z30S at 8,080 yuan/tonne.

Today's forecast: prices are expected to fluctuate slightly today.

PVC market:

PVC prices were generally steady yesterday, though some quotes moved. Supported by stable pricing at most petrochemical enterprises, traders mostly stayed on the sidelines and followed the market; downstream buying interest was limited, and the trading atmosphere was moderate. Market reference: Hebei offers held firm, calcium carbide method

Type 5 material was 6,360-6,420 yuan/tonne delivered, tax-exclusive; Guangzhou offers were mixed, with mainstream ordinary calcium carbide material at 7,250-7,400 yuan/tonne; Changzhou was mainly consolidating, with mainstream Type 5 calcium carbide material at 7,100-7,200 yuan/tonne.

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

The market ran steadily overall yesterday, with a few quotes edging up or down. Ex-works settlement prices rose slightly, lifting traders' restocking costs. With supply still tight recently, market negotiations moved up modestly. However, end users bought mainly for rigid needs, and actual deals were negotiated. Market reference: some Shunde quotes moved lower,

PG33 was quoted at 10,050 yuan/tonne; Dongguan quotes slipped from stable levels, with Guangzhou 525 at 9,030 yuan/tonne; Yuyao quotes were mostly steady, with a few small gains, and 118 was quoted at 9,900 yuan/tonne.

Today's forecast: the market is still expected to consolidate on a stable note today.

ABS market:

ABS prices were broadly stable yesterday, with a few grades testing slightly higher. Downstream buyers focused on need-based purchases, with limited receiving activity. Market sentiment remained light, and shipments were average. Market reference: Dongguan quotes consolidated in a range, Ningbo

121H was quoted at 11,680 yuan/tonne; Ningbo quotes showed little movement, with 0215A at 12,250 yuan/tonne; a few Yuyao quotes rose slightly, with 0215A at 12,350 yuan/tonne.

Today's forecast: the market may still see narrow consolidation on a stable note today.

The market ran steady to slightly warmer yesterday. With favorable factors continuing across the market,

PTA support was acceptable; polyester bottle chip producers mainly held prices firm, with limited upside. Traders kept offers stable, downstream buying follow-through was ordinary, mostly cautious observation, and market trading was light. Market reference: water bottle material in East China was around 6,550-6,650; South China water bottle material was around 6,600-6,700 self-pickup; North China water bottle material was around 6,550-6,600 self-pickup.

Today's forecast: prices are expected to consolidate within a narrow range today.

PET waste recycling

The market was broadly stable with minor changes yesterday, and trading was moderate. Raw bottle collection in the market declined, recycled bottle flake supply was tight, crushing plants were reluctant to ship, supporting the trend; some producers raised prices appropriately to attract supply. Chemical fiber plants had average production and sales and mainly purchased on a need basis, with moderate market trading. Market reference: machine-processed white flakes imitating major chemical fiber in East China were at

around 5,150 yuan/tonne, tax-exclusive.

Today's forecast: prices are expected to be mainly stable today.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354275.html