Mirroring the downtrend across the PET industry in China, Indonesia's PET market extended its correction this week, with prices falling even as the rupiah's weakness against the US dollar should have offered some cushion to domestic offers.
The European Union removed customs duties on US industrial imports this week, putting into force a trade agreement concluded with Washington last year under which the bloc eliminated tariffs on US-origin industrial goods in exchange for a 15% US tariff on EU exports.
A continued erosion of the Middle East geopolitical risk premium dragged global crude benchmarks to multi-month lows on Thursday, forcing Dalian paper markets into a deeper retreat. The Shenhua physical floor subsequently froze as the producer's unchanged auction baselines collided with aggressive discounting from local spot sellers.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 7,127 -146 | 6,798 -110 | 4,369 -69 |
| Close (USD/ton) | 929 -22 | 886 -16 | 569 -10 |
| Volume | 485,878 -4911 | 428,900 +11161 | 1,361,005 +6915 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
|||
| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 7,326 -312 | 5,328 -194 | 3,905 -94 |
| Close (USD/ton) | 955 -46 | 694 -29 | 509 -14 |
| Volume | 183,893 +10483 | 977,462 -1871 | 283,985 +2911 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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