Plastics Resin Market Outlook for Dec 16: Oil Hits Near Three-Month High, Rangebound Trading Persists

Investor sentiment received a boost from progress in resolving the China-US trade dispute and from the Conservative Party's decisive UK election victory, sending international crude prices to almost three-month highs last Friday.

January WTI crude futures settled $0.89, or 1.5%, higher at $60.07 per barrel, while February Brent settled up $1.02, or 1.6%, at $65.22 per barrel.

Plastics trading was broadly quiet last Friday. Linear futures moved upward within a narrow band, market participants stayed on the sidelines, offers were mixed, and real transactions saw an ordinary atmosphere. Downstream plants showed limited buying interest and stuck to essential purchases, leaving trading activity subdued. Market reference: Hangzhou quotations were mostly stable with only minor shifts.

Zhenhai 7042 was quoted at 7,500 yuan/tonne; Shanghai quotations moved higher, with Shanghai Petrochemical Q281 at 8,200 yuan/tonne; Tianjin prices declined, with Daqing 2426H at 8,200 yuan/tonne.

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

Last Friday, quotations were mostly stable, with localized small gains and losses. Traders took a wait-and-see approach while operating flexibly, and actual deals allowed room for negotiation. Downstream buying enthusiasm remained unchanged, with purchases kept to rigid demand and end-user trading flat. Market reference: Shantou quotations edged lower.

Zhongjiang Petrochemical T30S was quoted at 7,650 yuan/tonne; Nanjing offers consolidated, with Hengli L5E89 at 7,800 yuan/tonne; Hebei prices fell, with Baofeng K8003 at 8,750 yuan/tonne.

Today's forecast: the market is expected to trade in a range.

PVC market:

PVC prices were little changed last Friday. Traders remained strongly cautious, but small concessions appeared in actual deals as they sought to accelerate shipments. Downstream factories bought only as needed, restocking appetite was weak, and transaction growth remained difficult. Market reference: Hebei offers held steady.

Calcium carbide-based Type 5 material was quoted at 6,370-6,420 yuan/tonne delivered, tax excluded; Guangzhou offers were cut, with mainstream ordinary calcium carbide material at 7,280-7,380 yuan/tonne; Hangzhou moved within a narrow range, with Type 5 calcium carbide material at 7,100-7,200 yuan/tonne.

Today's forecast: the market is expected to consolidate in a narrow range.

Overall market movement was flat last Friday, with quotations for some grades edging up or down. Shipping pace was moderate, most traders stayed cautious, and downstream factories remained watchful. End users mainly bought for immediate needs, leaving overall conditions ordinary. Market reference: Dongguan quotations were steady in a narrow band.

Guang 525 was quoted at 9,180 yuan/tonne; Ningbo quotations were temporarily stable, with CITIC 525 at 9,050 yuan/tonne; Yuyao was broadly steady with minor moves in some grades, with 118 at 9,900 yuan/tonne.

Today's forecast: the market is expected to remain mostly stable, with small adjustments in certain regions.

ABS market:

ABS market sentiment was moderate last Friday, with a few grades moving slightly. Traders proceeded step by step with a cautious stance; downstream demand showed no improvement, buying was mainly as-needed, and market activity was thin. Market reference: some Dongguan quotations moved lower.

Tai 757 was quoted at 11,750 yuan/tonne; most Ningbo quotations held steady, with 0215A at 12,250 yuan/tonne; Yuyao saw minor moves in some grades, with 0215A at 12,350 yuan/tonne.

Today's forecast: the market is more likely to remain steady with narrow-range consolidation.

The market tone shifted slightly higher last Friday. A modest crude oil gain and a sharp rise in polyester raw materials strengthened cost support, prompting bottle chip producers to raise offers.

The increases ranged from 100-200 yuan/tonne. Traders followed with higher quotations, yet downstream demand remained weak, producers stayed cautious, and market trading was light. Market reference: East China water bottle material referenced at 6,500-6,650; South China water bottle material at 6,550-6,700 ex-works; North China water bottle material at 6,500-6,600 ex-works.

Today's forecast: prices may stabilize today.

PET waste recycling

Some regions rose within a narrow range last Friday. Winter made bottle collection difficult, keeping recycled bottle flake supply tight. Firmer, rangebound new material prices encouraged washing plants to test higher levels and withdraw low offers. End-user demand still lacked clear improvement, chemical fiber plants bought on rigid demand, trading was not brisk, and volumes struggled to expand. Market reference: East China machine-use white flakes imitating large-scale chemical fiber

were around 5,100 yuan/tonne, tax excluded.

Today's forecast: quotations are expected to mainly consolidate.

Source: China Packaging Network (pack.cn); original article: http://news.pack.cn/show-354248.html