December 19 Plastics Market: Oil Holds Steady as PP, PVC, ABS and PET Stay Rangebound

U.S. commercial crude inventories showed no drawdown, while demand expectations improved, leaving international oil prices broadly unchanged on Wednesday.

January WTI settled $0.01 lower, or 0.02%, at $60.93 per barrel, while February Brent closed $0.07 higher, or 0.11%, at $66.17 per barrel.

Prices fluctuated within a narrow range yesterday. Linear futures moved lower amid volatility, traders focused on shipments, offers edged down, and negotiations for actual deals were light. Downstream factories showed ordinary buying interest, continuing to enter the market on an order basis to meet normal production needs, and it may still take time for the market to shake off its current weakness. Market reference: Xiamen prices were steady, Fujian

7042 was quoted at 7,400 yuan/tonne; Zhengzhou quotes were steady, with Daqing 5000S at 7,900 yuan/tonne; Shanghai quotes were steady, with SECCO 0220AA at 7,700 yuan/tonne.

Today's forecast: some offers are expected to see minor adjustments today.

The market remained weak yesterday, with mainstream quotes edging down during the session. Polypropylene futures opened lower, weighing on sentiment, and with traders facing uneven shipments, unease persisted and a major overall improvement remained unlikely. Downstream factories kept restocking in small lots and bought only as needed, leaving overall trading light. Market reference: Wuhan continued to slide, Jingmen Petrochemical

T30S was quoted at 7,800 yuan/tonne; Hebei prices drifted lower, with Daqing Refining & Chemical EPS30R at 9,100 yuan/tonne; Nanjing consolidated weakly, with Yangzi K8003 at 9,500 yuan/tonne.

Today's forecast: the market is expected to continue its weak decline today.

PVC market:

The PVC market was mostly stable yesterday. Apart from a few producers making small ex-works price adjustments, most quotes held steady. Recently, producers have focused mainly on fulfilling earlier pre-sales,

January orders offered relatively wide room for negotiation. Trading sentiment was light, and shipments were ordinary. Market reference: Guangzhou offers changed little, with mainstream ordinary calcium carbide material at 7,260-7,380 yuan/tonne; a few grades in Qilu Chemical City eased slightly, with mainstream Type 5 calcium carbide material referenced tax-inclusive at around 7,045-7,055 yuan/tonne self-pickup; Changzhou quotes were stable, with mainstream Type 5 calcium carbide material at 7,100-7,200 yuan/tonne.

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

The market held steady yesterday, though some South China areas edged lower. The mainstream market still showed no clear improvement; traders mostly stayed on the sidelines and operated step by step, downstream demand was flat, and actual deals retained room for negotiation. Market reference: Shunde quotes edged down, Guangzhou

525 was quoted at 9,000 yuan/tonne; Dongguan prices softened within a stable range, with Aisikai 127 at 9,400 yuan/tonne; Yuyao quotes were broadly steady, with 118 at 9,900 yuan/tonne.

Today's forecast: the market is expected to hold broadly steady, with isolated consolidation.

ABS market:

ABS prices consolidated weakly yesterday. Traders faced poor shipments and actively offered discounts, overall trading sentiment remained light, and downstream buyers mainly purchased on a need basis. Market reference: Dongguan quotes were soft and rangebound, Tai

850 was quoted at 10,920 yuan/tonne; Ningbo quotes were mostly stable, with 121H Yongxing at 12,450 yuan/tonne; Yuyao quotes held broadly steady, with 121H at 12,500 yuan/tonne.

Today's forecast: the market is expected to be mostly stable today, with localized fluctuations.

The market center moved slightly higher yesterday. International oil prices rose,

PTA fluctuated, ethylene glycol rose, support for the PET market strengthened, and producers showed a stronger stance on holding prices. Downstream demand showed little improvement, with buying still on a need basis and overall trading moderate. Market reference: East China bottle-grade material was referenced at 6,550-6,700; South China bottle-grade material at 6,600-6,700 self-pickup; North China bottle-grade material at 6,550-6,700 self-pickup.

Today's forecast: the market is expected to trade rangebound today.

Recycled PET

The market center held steady yesterday, with prices raised in some regions. Supported by virgin material, the recycled market consolidated gently. Available recycled bottle flakes in the market gradually declined, supply-side price support remained, and washing plants showed little willingness to sell at low prices. Chemical fiber plants saw ordinary shipments and mostly bought feedstock flexibly on a need basis, with overall trading moderate. Market reference: East China imitation large chemical fiber machine-use white flakes at

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

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

— This article is republished from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354318.html