Plastic Market Forecast On March 10,2023

Mar 13, 2023

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[PP market]

Yesterday, the market continued to be weak, crude oil continued to fall, futures fell, the mood of the traders in the market was pessimistic, the offer of merchants was lowered, and the focus of spot prices continued to move downward slightly. The demand follow-up is weak, and the atmosphere of transaction on the floor is weak. Market reference: wire drawing in the North China market is reported at 7700-7850 yuan/ton, wire drawing in the Central China market is reported at 7750-7850 yuan/ton, wire drawing in the East China market is reported at 7700-8150 yuan/ton, and wire drawing in the South China market is reported at 7800-7950 yuan/ton.

Today’s forecast: PP market is expected to be weak in the short term.

[PVC market]

Yesterday, the PVC futures fluctuated downward, the spot market prices fell as a whole, and merchants mainly shipped goods, and negotiated with real orders. The quotation of PVC production enterprises was lowered individually, and the downstream product enterprises were mainly wait-and-see. They just needed to receive the goods and did not change, and the overall transaction of the market remained average. Market reference: In Changzhou PVC market, the mainstream reference of calcium carbide 5 type material is about 6250-6360 yuan/ton, Tianhu, Zhongyan, Yihua, Jintai are about 6300-6320 yuan/ton, and Zhongtai, Beiyuan and Tianye are about 6330-6360 yuan/ton.

Today’s forecast: In the short term, the PVC market will still be dominated by shock consolidation.

[ABS market]

Yesterday, the market was on the sidelines, crude oil continued to decline, styrene was weak, and the pace of downstream and middleman procurement slowed down, and market trading may continue to weaken. Market reference: The mainstream price of domestic supply in East China ABS (acrylonitrile butadiene styrene) market is 10350-11550 yuan/ton.

Today’s forecast: It is expected that the narrow market will be consolidated and operated today.

[PE market]

Although the ex-factory price of petrochemical industry is high and the downstream demand continues to rise, the insufficient follow-up of orders from sub-factories leads to a limited increase in the start of construction. The market mentality is cautious and the transaction resistance increases.

Today’s forecast: the short-term market is expected to be weak.