News
Malaysia decided to end the anti-dumping investigation on plastic imports from Vietnam, China, Indonesia and Korea, and to end the provisional anti-dumping tax and release the deposited deposits.
ABS sellers in China and Southeast Asia were encouraged to slightly increase their quotes last week. The main factors driving the market up are the recovery in crude oil futures prices as well as improving end consumer demand.
April's price spikes sent Europe's PS and ABS markets to unprecedented levels as the climb accelerated due to soaring costs, while Asian markets fell on weak demand. Since Europe has outperformed the global markets, especially Asia, the spread between the two regions has widened to a level large enough to set a new record.
The domestic PP and PE markets in Southeast Asia have been going downhill over the past two months, driven by persistently weak demand, although a stronger US dollar continues to detract from the competitiveness of imports into the region.
Several mixed factors have dragged Egypt's domestic and imported polyolefin markets in opposite directions over the past few weeks. While foreign exchange shortages and impeded imports gave distributors leverage to announce price increases, the import PP and PE markets have continued to weaken due to reduced demand.
According to data from Statistical Instrumentation, China's total homo PP imports for the January-April 2022 period show the lowest figure since 2008.
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 ...
After closing June deals with a triple-digit drop, European PP and PE market participants are bracing for deeper price drops next month due to ample supply and weak demand. Monomers are also forecast to decline due to the widening spread between spot and contract prices.
Overcoming difficulties, the plastic industry showed many signs of recovery, maintained business operations and achieved many impressive achievements.