December 20 Plastics Market Forecast: Crude Oil Hits Three-Month High, Spot Trading Stays Thin

A drop in U.S. crude inventories reported a day earlier, together with continued easing of China-U.S. trade tensions, helped U.S. crude futures reach a three-month high on Thursday amid thin pre-Christmas trading.

January WTI crude futures settled up $0.29, or 0.5%, at $61.22 per barrel; February Brent crude rose $0.37, or 0.6%, to settle at $66.54 per barrel, extending gains to a sixth consecutive trading day.

The market saw weak consolidation and light trading yesterday. Linear futures underperformed, some petrochemical enterprises lowered prices, traders stayed on the sidelines, most offers moved lower, and only a few tight-supply resources edged up. Downstream factories showed low enthusiasm for taking cargo, a wait-and-see mood dominated, and the current sluggish trading is unlikely to improve. Market reference: Wuhan prices were stable, Shenhua

2426H was quoted at 8,000-8,100 yuan/tonne; Guangzhou prices softened, with Guangzhou 7042 at 7,600-7,650 yuan/tonne; Changzhou quotes were reduced, with Lanzhou Petrochemical 5000S at 8,050 yuan/tonne.

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

The mainstream market pattern was unchanged yesterday, with most prices falling. Polypropylene futures remained weak, some petrochemical pricing was lowered, cost support continued to loosen, traders remained clearly eager to ship, and quotes mainly oscillated downward. Downstream follow-through on actual deals was moderate, and factories basically purchased on a need-to basis to maintain normal production. Market reference: Shantou prices fell, Fujian Refining

1080K was quoted at 7,630 yuan/tonne; the Chengdu market continued to move lower, with Sichuan L5E89 at 7,850-7,900 yuan/tonne ex-warehouse; Hebei prices were weak, with Dushanzi K8003 at 9,050 yuan/tonne.

Today's forecast: prices are expected to change little today.

PVC market:

The market was stable with consolidation yesterday, with a few slight declines. The overall wait-and-see atmosphere was fairly strong. Traders mostly shipped in step with the market while waiting for downstream inquiries, and quotes consolidated within a narrow range. Downstream factories purchased cautiously and were unwilling to place orders rashly, with few actual transactions. Market reference: Zhengzhou offers held steady, calcium carbide method

Type 5 material, tax-exclusive, was mainly quoted at around 6,550-6,630 yuan/tonne; the Shantou market changed little, with mainstream Type 5 quotes at 7,330-7,450 yuan/tonne; Guangzhou offers were slightly lowered, with mainstream ordinary calcium carbide material at 7,250-7,350 yuan/tonne; Changzhou ran steadily, with mainstream Type 5 calcium carbide material at 7,100-7,200 yuan/tonne.

Today's forecast: the market is expected to consolidate with a weak bias today.

The market continued to run steadily yesterday, with a few quotes moving lower. Downstream factories purchased little, and transactions and shipments in the market remained moderate. With trading sentiment subdued, most traders held a cautious attitude. Market reference: Shunde quotes slipped from a stable level,

PG33 was quoted at 9,900 yuan/tonne; most Ningbo quotes held steady, with CITIC 525 at 9,100 yuan/tonne; Yuyao quotes were generally steady with a few small declines, and 118 was quoted at 9,900 yuan/tonne.

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

ABS market:

The market ran steady with consolidation yesterday, and some local quotes fluctuated. Actual transactions in the market were less than ideal, with buyers and sellers somewhat deadlocked. Given the current trend, downstream players mainly watched, and the pace of market shipments was moderate. Market reference: Dongguan quotes fell from a stable level, Taiwan

757 was quoted at 11,680 yuan/tonne; Ningbo quotes were broadly steady with minor movements, with 0215A at 12,250 yuan/tonne; Yuyao quotes were steady with some local fluctuations, with 0215A at 12,350 yuan/tonne.

Today's forecast: the market is expected to be steady with minor movements today.

The market was mainly in consolidation yesterday. Crude inventories declined,

PTA gave back gains, ethylene glycol fluctuated at high levels, the PET market moved sideways, producers held prices firm, and market sentiment cooled. With cost support weakening, traders' offers moved toward the low end, downstream buying follow-through was moderate, and market trading sentiment was light. Market reference: water bottle material in East China around 6,550-6,800; water bottle material in South China around 6,600-6,850 self-pickup; water bottle material in North China around 6,550-6,750 self-pickup.

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

PET waste recycling

The market changed little yesterday, with the price center mainly adjusting within a narrow range. Raw material supply was tight, recycled bottle flake supply became tighter, and washing plants were reluctant to sell at low prices. The recycled chemical fiber market improved slightly, chemical fiber plants shipped at a moderate pace and appropriately raised raw material purchasing offers to attract supply, and overall trading in the market was not brisk. 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: the market is expected to trend sideways today.

Source: China Packaging Network (pack.cn); original link: http://news.pack.cn/show-354328.html