January 10 Plastics Market Forecast: Crude Retreats as Holiday Demand Softens

International crude oil futures extended their pullback on Thursday after the prior session’s sharp fall, as traders turned their attention to rising U.S. crude inventories and U.S.-Iran tensions showed signs of easing.

The February WTI contract settled 0.05 USD lower, a 0.1% dip, at 59.56 USD per barrel. Brent crude slipped 0.07 USD, or 0.1%, to settle at 65.37 USD per barrel.

Yesterday’s plastics market lacked direction, with prices moving both ways. Linear futures weakened while petrochemical offers held steady. Traders had limited spot supply and adjusted quotations mainly according to resource availability. Downstream plants showed soft demand and had largely prepared for the holiday, so overall transactions continued to shrink. Market reference: Shenyang quotes edged higher, with Daqing

2426H at 8,250 yuan/tonne; Dongguan prices saw narrow adjustments, with Guangzhou 7042 at 7,130 yuan/tonne excluding tax; Shanghai quotes were rangebound, with Shanghai Petrochemical Q281 at 8,150 yuan/tonne.

Today’s forecast: Prices are expected to see little change today.

The market remained weak yesterday, with a few prices inching lower. Petrochemical inventories dropped clearly, while a wait-and-see mood persisted. Traders kept prioritizing cargo releases and position reduction. Downstream pre-holiday replenishment was limited, demand stayed flat, the market turned quiet, and trading activity was light. Market reference: Panjin saw isolated declines, with Fushun

T30S at 7,550 yuan/tonne; Hangzhou quotes retreated, with Formosa Plastics 1120 at 8,900 yuan/tonne; Xiamen prices moved lower, with Hainan V30G at 8,150 yuan/tonne.

Today’s forecast: The market is expected to consolidate with a weak bias today.

PVC market:

Yesterday, PVC prices were cut within a narrow band, with reductions of

20-50 yuan/tonne, and trading sentiment cooled. PVC producer quotations drifted lower, with spot material still sold at the low end. As the holiday neared, end-use demand weakened and actual transactions were negotiated separately. Market reference: Hangzhou eased narrowly, with 5-type calcium carbide material now at 6,700-6,880; Zhengzhou was mainly consolidating, with mainstream ex-tax quotes for calcium carbide process 5-type material around 6,320-6,370 yuan/tonne; Guangzhou saw selected grades lower, with Beiyuan 8-type at 7,150 yuan/tonne.

Today’s forecast: Mainstream quotes are expected to soften while staying broadly stable today.

Yesterday, the market was largely stable with only minor changes, and some prices pulled back by

about 30 yuan/tonne. Trading atmosphere was ordinary. The crude oil plunge cooled market bullishness. Traders faced limited inventory pressure, quotations were mostly maintained, actual orders were negotiated, and transaction performance was average. Market reference: Some Dongguan quotes declined, with SK 118 at 9,300 yuan/tonne; Shantou prices weakened within a stable range, with SKG-118 at 8,450 yuan/tonne; Ningbo quotes changed little, with Saibaolong 525 at 9,000-9,200 yuan/tonne.

Today’s forecast: The market is expected to be weak but steady today.

ABS market:

Yesterday, ABS prices changed only within a limited range. With the year-end approaching, downstream restocking interest was weak, traders actively pushed shipments, and real transactions were negotiated. Market reference: Dongguan quotes consolidated weakly, with Formosa

757 at 11,720 yuan/tonne; Yuyao stayed in a narrow wait-and-see range, with Ningbo Formosa Chemicals 15E1 at 12,350 yuan/tonne; Shantou showed some firmness, with Jilin Chemical 150 at 11,000 yuan/tonne.

Today’s forecast: Prices are expected to remain stable today.

Yesterday, the market’s center drifted slightly weaker. U.S. crude inventories increased and international oil prices plunged,

while PTA futures retreated, putting pressure on polyester bottle chips and prompting some producers to lower offers. The sector continued to run at a loss, however, leaving the market weak and rangebound with limited adjustments. Downstream restocking enthusiasm was low, and trading was light. Market reference: East China water bottle material at 6,550-6,700; South China water bottle material at 6,550-6,700 ex-works; North China water bottle material at 6,550-6,700 ex-works.

Today’s forecast: Prices may stabilize and consolidate today.

PET waste recycling

Yesterday, the recycled PET market ran steadily, with the bargaining center basically unchanged. Snowfall in most northern regions made raw material collection difficult, giving some support on the supply side, but downstream demand remained poor. Recycled chemical fiber producers shipped slowly, and as the year-end approached, factories began holiday shutdowns one after another, leaving trading sentiment quiet. Market reference: In East China, imitation virgin-chip grade white flakes for spinning were at

around 5,250 yuan/tonne, excluding tax.

Today’s forecast: Prices are expected to continue running steady today.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-354506.html