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After trading just below multi-year highs on Friday, crude oil prices edged higher last week. The pre-weekend rally extended into Monday and hit multi-year highs in intraday trading. The bullish sentiment due to tight global supply and increased fuel demand in the US and Asia supported the global benchmark oils.
Traders say a series of shutdowns in India has provided an opportunity for Chinese PE exporters, at a time when China's surplus imports are awaiting new markets. . Chinese sellers have increased their focus on re-exporting PE to Southeast Asia to ease their inventory pressure.
Overcoming difficulties, the plastic industry showed many signs of recovery, maintained business operations and achieved many impressive achievements.
Contrary to popular belief, the production of plastic produces less greenhouse gas emissions than alternative materials.
Positive Plastics is a new initiative launched by three materials experts, united by a special passion for plastics. It's a passion they want to share with the designers and engineers with whom they work, to encourage them to "think positively about plastics."
After a strong rally after the National Day holiday, both local and import PP prices reversed course over the past week as Dalian futures prices fell and have continued to trend lower since then.
In Vietnam, import PP prices have been going up in the past two weeks after a stable month. This is due to the bullish trend in the Chinese PP market because of the energy cuts of the country.
Several regional and foreign suppliers have announced July PP and PE prices for China and Southeast Asia mostly at lower levels this week. Weak demand in China as uncertainty over the pandemic persists, has been a major factor pulling prices down in the region.
Rising costs encouraged European PS sellers to announce fresh hikes early in May. Having emerged €50-90/ton above April levels, PS prices hit fresh record highs but the upturn has lost speed. While smaller increases of around €50-60/ton have passed on deals so far, some sellers have started to report even rollovers in a few ...