Saudi Aramco, the state-owned oil and gas giant, has opted to keep its December liquefied petroleum gas (LPG) contract prices unchanged, sustaining levels at a 20-month high. This decision reflects the balancing act between strong seasonal demand for winter heating and a sluggish petrochemical sector.
Market participants noted significant, even aggressive, buying activity in Southern China at the start of the week, largely driven by local traders seeking to secure ready-stock parcels to meet the delivery obligations of previously sold containers.
Indonesia, like other Muslim-majority countries, will observe Ramadan at the beginning of March 2025. Preparations for the festive season, typically seen between December and early January, are fuelling a positive outlook for food and beverage packaging demand.
The Chinese PVC market has reached an unprecedented low, with spot carbide-based PVC prices falling below the CNY 5,000/ton threshold on an EXW China basis for the first time since CommoPlast began tracking the market in 2015.