ReutersReuters

GLOBAL POLYMER MARKET SYNOPSIS

AsiaHDPE: This week, HDPE prices declined in the Asian region. HDPE prices continued to remain under sustained bearish pressure as market participants were reluctant to purchase any material. A rise in inventory levels and lower import offers from overseas suppliers further supported the price fall. In China, although futures prices rallied supported by bullish cost fundamentals, spot market sentiments remained tepid with end users preferring to remain on the sidelines. Though trading volumes rose on a week on week basis, downstream producers remained wary about making purchase decisions and maintained low inventory levels. As markets in Europe, South America and the Middle East continued to reel under a subdued demand undertone, discussions concerning the PE import market were heard to be under considerable pressure. Overseas sellers were seen offering greater volumes to China at competitive price levels to open a crucial arbitrage window. LDPE: This week, LDPE prices witnessed a steep drop across the Asian region. The sharp price fall was triggered by persistent weaker buying sentiment and lower import offers from the overseas suppliers. Reports of ample regional product availability and bearish upstream energy values further pressured prices lower across Asia. LLDPE: This week, LLDPE prices fell sharply in the Asian region. Lower import offers from overseas suppliers coupled with plentiful regional product availability supported the sharp price fall. Reports of persistent bearish buying sentiments further pressured prices lower. LLDPE futures price levels rebounded sharply on the back of cost side support but the spot market lacked similar momentum as end-users stayed on the sidelines. PP: This week, PP prices witnessed a steep drop in the South East Asian and South Asian region. PP prices tumbled in the South East Asian and South Asian region. Low demand sentiments and buyers adopting a cautious approach while making procurement decisions proved to be key factors in pulling prices lower. Customers were not making big volume purchases on the back of heightened expectations that there was considerable headroom for further decline in prices. Reports of a fall in propylene feedstock values and a fall in import offers from overseas suppliers exerted a bearish pressure on prices in the region. PS: PS prices tumbled across the Asian region, this week. Weaker upstream SM values combined with sluggish demand sentiments forced several Asian producers to cut their import prices. Reports of ample product avails and lacklustre buying trends also pushed prices lower in the region.ABS: This week, ABS prices tumbled across the Asian region. A week on week drop in upstream SM, butadiene & ACN feedstock values coupled with lower import offers from overseas suppliers weighed on ABS prices. Dull demand from the downstream industrial sector, further pressured prices lower in the region. PVC: This week, despite a fall in upstream energy and EDC feedstock values, PVC prices remain unchanged. A majority of market participants were seen retreating to the sidelines amid volatile market conditions to observe the near term outlook. PET: Despite a fall in upstream energy and PTA feedstock values. PET prices were assessed stable in the Asian region, this week. Buying trends were reported to be steady amid sufficient product avails. EuropeHDPE: This week, HDPE prices journeyed southward in Europe. Reports of continued bearish buying trends pressured prices sharply lower across the European region. Bearish ethylene feedstock contract values for the month of August 2022 also pushed prices lower in the region. LDPE: This week, LDPE prices fell sharply in Europe. Prices fell on the back of subdued demand sentiments. Activity was expected to remain muted through August as market converters, distributors and traders started their summer holidays in Southern Europe. Persistent inflationary pressures and rising concerns over the possible onset of a recession pressured end user demand downward. LLDPE: This week, LLDPE prices drifted lower in Europe. Prices dropped, mainly on account of persistent sluggish downstream demand trends and improved product supply across the European region. Bearish ethylene feedstock contract values for the month of August 2022 also pushed prices lower in the region. PP: This week, PP injection spot FD NWE prices declined in Europe. The sharp price drop was on the back of weaker buying sentiments across the European region, especially in the downstream sector. Market participants also cited strong supply fundamentals and wide product availability across Europe as key reasons for the price fall. Bearish feedstock propylene contract values for the month of August 2022 also pushed prices lower in the region. PS: This week, despite weaker upstream SM values, PS spot and contract prices were assessed stable in Europe. Buying interest was reported to be steady in the region while product availability remained sufficient. ABS: This week, ABS contract prices nosedived in Europe. Weaker feedstock SM contract and spot values for the month of August 2022 pushed prices lower in the region. PVC: This week, PVC prices dropped in Europe. The price fall was triggered on the back of continued sluggish regional demand trends, reports of improved product availability in the region and concerns over a fall in prices in the coming weeks. Bearish feedstock EDC and VCM values also pushed prices lower in the region. PET: This week, PET spot prices edged lower in Europe. The price fall was on the back of sluggish buying sentiments and ample regional product availability. Weaker upstream MEG values further supported the price fall. USHDPE: This week, HDPE export prices slipped in the United States. Reports of bearish buying sentiments coupled with weaker upstream energy values pressured prices lower. LDPE: This week, LDPE export prices drifted lower in the United States. The price fall was attributed to sufficient product avails and continued weaker demand trends from overseas markets. Reports of dull buying sentiments in the domestic market, further pulled prices lower. LLDPE: This week, LLDPE export prices nosedived in the United States. Reports of dull buying sentiments from overseas markets supported the price fall. PP: This week, PP export prices nosedived in the United States. The steep price drop was in line with bearish upstream polymer and chemical grade propylene contract values. Reports of weaker demand trends and sufficient product avails further pressured prices lower. PS: This week, PS export prices crashed in the United States. The steep price drop was triggered by a plunge in upstream SM rates and dull buying sentiments from the overseas markets. ABS: This week, despite bearish upstream SM values, ABS prices were assessed steady in the United States. Demand trends were reported to be soft in the region. PVC: This week, PVC export prices crashed in the United States. Prices fell sharply on the back of a steep reduction in overseas offers from suppliers to boost buying interest.

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