January 7 Plastics Market Outlook: Resin Prices and Today’s Trends Amid Oil Swings
US-Iran tensions remained in focus, with Brent crude briefly trading above the US$70/bbl mark intraday.
Still, the market viewed the Middle East situation’s next steps as unclear, so oil gains narrowed. February WTI crude futures gained US$0.22 to settle at US$63.27/bbl, while Brent crude futures rose US$0.31 to US$68.91/bbl.
Plastics prices saw only modest adjustments yesterday, with a wait-and-see tone prevailing. The US-Iran conflict pushed linear LLDPE futures sharply higher, and uncertainty over future Iranian supply prompted many sellers to raise offers. End-use demand showed no clear recovery, and downstream buying interest was ordinary. Market reference: Tianjin prices edged slightly, Daqing
2426H at 8,100-8,150 yuan/tonne; Guangzhou offers adjusted, with Guangzhou 7042 at 7,470-7,550 yuan/tonne; Hebei offers were rangebound, with Dushanzi 5502 at 7,400 yuan/tonne.
Today's forecast: quiet, rangebound conditions are expected.
Yesterday’s prices adjusted within a narrow range. PP futures trended higher, while petrochemical ex-works prices were mostly stable with minor moves, giving traders some support but not enough to drive a strong rally; deals were mainly negotiated. Downstream buying willingness was low, terminal trading was thin, and some transactions were acceptable. Market reference: Shanghai
In Shanghai, the PP market moved lower in some grades, with Daqing Refining & Chemical T30S at 7,800 yuan/tonne; Chongqing edged slightly, with Baofeng K8003 at 8,800 yuan/tonne; Hebei was broadly stable with minor changes, with Hohhot Petrochemical T30S at 7,550 yuan/tonne.
Today's forecast: prices are expected to see limited fluctuation.
PVC market:
The PVC market was mostly stable yesterday, with some grades declining. Arrivals increased, downstream procurement failed to keep pace, and sellers showed a stronger intent to adjust prices. With the Spring Festival approaching, downstream stocking demand was small, and buying was mostly hand-to-mouth. Market reference: Shantou offers,
mainstream Type 5 quotes at 7,050-7,200 yuan/tonne; Changzhou spot prices softened, with calcium carbide process Type 5 at 6,750-6,950 yuan/tonne.
Today's forecast: some areas may continue a narrow downward adjustment.
The market was mostly steady yesterday, with a few grades slightly lower. Crude oil and domestic futures rose, but inquiry activity did not improve noticeably; participants stayed cautious, and actual deals were negotiated. Market reference: Shunde quotes were stable for now,
PG33 at 9,900 yuan/tonne; Beijing-Tianjin-Hebei quotes were mostly stable, with PetroChina 500 at 9,000 yuan/tonne.
Today's forecast: quiet, stable conditions are likely.
ABS market:
ABS prices fluctuated in a narrow range yesterday, softening slightly in some areas. The market ran quietly, traders followed the market, downstream buying interest was weak, and transactions were mostly small. Market reference: Ningbo market was quiet,
0215A at 12,150-12,200 yuan/tonne; Dongguan quotes consolidated, with Taiwan 757 at 11,650 yuan/tonne.
Today's forecast: weak consolidation is expected.
Bottle chip prices moved higher yesterday, with a fair trading atmosphere. Both polyester raw materials rose, and supported by cost-side gains, bottle chip producers lifted offers
by 50-150 yuan/tonne. Traders followed the market and largely stayed on the sidelines. Downstream buyers purchased as needed, with actual transactions negotiated. Market reference: East China water bottle material at 6,550-6,700; South China water bottle material at 6,600-6,700 ex-works pickup; North China water bottle material at 6,550-6,700 ex-works pickup.
Today's forecast: prices may fluctuate in a narrow range.
PET recycled material
The recycled PET market held steady yesterday, with the mainstream negotiation center largely unchanged. Raw scrap collection was slow, recycled bottle flake supply was moderate, and washing plants focused on pre-holiday wrap-up, reducing shipments. Terminal demand was weak, chemical fiber plants planned shutdowns, the overall operating rate fell, and actual deals were scarce. Market reference: East China imitation virgin-grade white flakes for spinning at
around 5,250 yuan/tonne, tax excluded.
Today's forecast: prices are expected to be largely stable with minor adjustments.
—Source: China Packaging Network (pack.cn); original link: http://news.pack.cn/show-354467.html
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