Polymerupdate News - The buying mood remains dull across Asian polymer markets
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The buying mood remains dull across Asian polymer markets

Petrochemical industry | 06 Dec 2018 15:00 IST | Polymerupdate.com

The Asian polymer markets continue to remain soft and sluggish with a majority of industry players contacted, including actual users, traders and resin producers, confirming the bearish trend.

A trader in China when contacted said, " PP rates on the Dalian are down as are prices of LLDPE. Upstream ethylene rates have also slipped. Softer crude, weak regional cues, dull finished product demand and year end pressures to keep inventories low are spooking the markets. We do not see any recovery happening anytime soon, unless post the OPEC meet today, a larger than expected cut in Oil output cuts send prices of crude sharply higher."

An actual user from India, in conversation with a polymerupdate team member said, " availability is ample, not only with domestic traders, but also with resin producers. We are in no hurry to buy as we have sufficient inventories."

An Indian trader said, " there has been some improvement today in the open markets, but this is largely need based buying. Buying volumes remain low as no one is prepared to overstock in a bearish market scenario. Supplies of both PP and PE are also plentiful in India. Moreover, we know that Indian resin makers are sitting on large inventories of unsold cargoes. They may be hoping for a shift in market trends, but we do not see that happening immediately."
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