Plastic News
Oil steady, traders on sidelines as OPEC+ talks drag on.
Oil prices steadied on Friday after OPEC+ ministers resumed talks on raising oil output the day after the United Arab Emirates blocked a deal, which could delay plans to pump more oil through the end of the year.
US recyclers face supply challenge: panel.
The US plastics recycling industry could face a supply gap as recycling efforts expand due to challenges in materials collection, panelists said at a waste and recycling conference in Las Vegas June 28.
PP resin prices rising with the summer heat.
The North American polypropylene resin market continued its unpredictable ways in June, with prices increasing an average of 12 cents per pound.
European recycled PET premium over virgin hits all-time high.
The premium for recycled polyethylene terephthalate clear flakes over virgin PET in Northwest Europe reached a record high on June 30, as prices for the materials continued to follow diverging paths, S&P Global Platts data showed.
Coca-Cola to transition to 100% R-PET in Great Britain.
Coca-Cola Great Britain will transition its entire range of on-the-go bottles to 100% recycled polyethylene terephthalate from September 2021, according to a press release June 30.
Bottom talks start in India’s PVC market after 3-digit drops for July.
With import PVC prices in India having lost more than 16% of value over the past nine weeks, players’ discussions have moved to whether a price floor might be nearing. A major Taiwanese producer which often sets the tone of the market approached India with a $130/ton decrease for July.
Indonesia chemicals markets slow down on new COVID-19 restrictions.
Indonesia's chemicals markets are expected to slow down as new emergency measures come into effect across major parts of the country from 3-20 July to stem a massive surge in coronavirus cases.
China’s local PP, PE markets propelled by rising futures, lower inventory levels.
After remaining under downward pressure from limited buying interest since the first half of May, local PP and PE prices in China have tracked a stable to a slightly firmer trend recently on the back of oil-driven gains in Dalian futures and declining inventory levels.
Prices of film grade HDPE continue to fall in Russia.
Oversupply continued to pressure on prices of film grade high density polyethylene (HDPE) in Russia, according to ICIS-MRC Price report.
PE sentiment responds to firmer PP as July approaches in Turkey.
Import PP prices continued to see upward corrections this week in Turkey. Suppliers eased their stock pressure earlier in June when prices bottomed out following a collapse in the market.
European naphtha to see support on LPG shortage, increased blending demand.
The European naphtha complex is set to see increased tightness as short supply of alternative feedstock LPG in Europe, coupled with robust downstream petrochemicals demand, leaves the latter with little alternatives but to increase naphtha utilization rates.
Formosa Plastics USA delays Baton Rouge PVC expansion to Q4 2022: sources.
The startup of Formosa Plastics USA's expansion of its 513,000 mt/year polyvinyl chloride plant in Baton Rouge, Louisiana, has been pushed to Q4 2022 from Q4 2021, according to sources familiar with company operations.