Post-holiday market outlook is bullish at the moment. Sources cited the rising upstream costs, couple with the concerns over the supply crunch from the US are the primary support.
In an official statement, the producer cited the “inability to secure sufficient container space” as a result of the shipping disruption in the Red Sea.
In Indonesia, offers for non-dutiable Vietnamese homo-PP surged above the $1000/ton threshold for the first time in weeks
Meanwhile, Middle Eastern LLDPE and LDPE film spiked $15-20/ton. The development closely mirrors the domestic market, where easing supply tightness weighs heavily on the HDPE sector.
While cost pressure is on the rise, the stubbornly weak demand in China drags this market to multi-month lows and erodes confidence across the region.
In China, the local PP and PE market kickstarted the week on a firm note with spot offers gaining another CNY50/ton from the previous week. Sources said that manufacturers in the agricultural film sector started to return to the market
The Chinese PVC market fell by another CNY100/ton from the previous week due to lethargic purchasing activities and rising inventory pressure.
In India, a major local producer lifted spot PP, LDPE, and PVC offers with effective 7 December, marking the second hike this month.
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