Despite these headwinds, the Saudi producer’s confidence stems from robust demand for LLDPE film and LDPE lamination in China. According to CommoPlast data, the Chinese LLDPE film market has experienced a sustained rally over the past seven weeks, driven by solid demand and tight supply.
A leading Malaysian petrochemical producer has unveiled its January price list for PP and PE shipments to Indonesia, maintaining prices at the previous month’s levels while omitting offers for HDPE. Industry insiders interpret this as a strategic adjustment aimed at prioritizing higher-margin products amid shifting market dynamics.
The crisis has forced Iranian authorities to resort to drastic measures, including cutting off electricity to industrial sectors and plunging manufacturing activities into near stasis. Urban areas, from highways to shopping malls, have been plunged into darkness as authorities grapple with diminishing power supplies.
Several key Chinese PP suppliers have opened export homo-PP offers on the first trading day of the week, maintaining prices on the stable to softer track despite the stabilizing domestic front. A weakened Yuan provided exporters extra room to navigate the challenging export front.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 7,419 +43 | 8,089 -28 | 5,359 +71 |
| Close (USD/ton) | 899 +6 | 980 -4 | 650 +10 |
| Volume | 507,685 +3339 | 531,783 +3290 | 781,961 +48092 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 7,050 +42 | 4,966 +24 | 4,763 +59 |
| Close (USD/ton) | 855 +6 | 602 +3 | 577 +8 |
| Volume | 73,289 +9121 | 1,030,000 +26971 | 256,920 -12670 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
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