In Italy, the firming trend in the PE market has been in place since late February because of persistently tight supply stemming from several force majeure announcements and outages in the region. Since the beginning of March, LDPE prices have posted three digit hikes of €300-350/ton in Italy’s spot market, based on average ChemOrbis Price
According to ChemOrbis, players in Europe report that PE prices are recording another month of sharp increases for May while the outlook for June is cloudy as supply concerns are showing some initial signs of easing while buyers complain that they cannot afford to accept another round of price hikes after facing three consecutive months
According to ChemOrbis, Indonesia’s PET market is seen catching up with the firmer trend in Asia this week after domestic producers issued up to three-digit hikes on their local prices pointing to higher feedstock costs. Following an explosion at a Chinese PX plant, which makes up 12% of the country’s total PX capacity, spot prices
In Asia, spot styrene costs continued to record increases last week as prices indicated three digit hikes on a week over week basis. As a result of these styrene hikes, Asian PS offers given to the Mediterranean markets, including Egypt and Turkey, soared while Asian PS markets embraced more modest hike amounts, according to ChemOrbis.
According to data from ChemOrbis Price Index, import PVC prices in India saw their lowest levels in five years’ time owing to persistently sluggish demand which is mostly triggered by plunging crude oil and upstream costs as per the pricing service of ChemOrbis. Players report that most buyers in India are still maintaining their stance
The European PE market’s downward trend slowed down at the beginning of December, with the latest prices tracing a stable to softer trend as per the pricing service of ChemOrbis. Some suppliers conceded to discounts without reflecting the entire ethylene drop of €50/ton while others are even seeking to maintain their prices citing the prevailing
In Africa, December PP and PE prices were announced with mostly decreases last week, in line with earlier expectations as per the pricing service of ChemOrbis. However, Nigeria, Africa’s largest oil exporter, was an exception to this given the currency problems that the country has been struggling with. Nigeria’s local PP and PE producer ELEME
Bioplastics production to grow by more than 400% by 2018, according to the latest findings presented at the 9th European Bioplastics Conference, which took place from December 2-3 in Brussels, Belgium. The data compiled by European Bioplastics in cooperation with its partners – the IfBB – Institute for Bioplastics and Biocomposites (University of Applied Sciences