Global Poly Vinyl Chloride sentiment shivers on growing demand concerns

Poly Vinyl Chloride sentiment has recently showcased mixed sentiments across global markets due to growing demand amid many factors that weigh on consumption in the month of April. The world’s largest PVC producer, China, has been partly experiencing pressure as the resurgence of Covid has hit demand for Poly Vinyl Chloride. Additionally, import offers in Turkey and Egypt markets have already seen a downward trend for the product.

China’s domestic PVC market reflected weak demand conditions amid the extended lockdowns in Shanghai as prices softened this week. Manufacturers indulged in procuring stable offtakes in the domestic market as delays in export activity due to a shortage of containers for shipment led to a reduction in prices of several commodities, such as PVC. The activity was limited as players had put up a wait-and-see attitude before the announcement next week.

The European Spot PVC market showcased a high price trend in comparison to other regions amid ongoing geopolitical tension in eastern Europe. Meanwhile, the PVC prices were observed to rise in response to the inflation in the area. Slowing activity has put a limited supply of PVC in the region. Inflation caused as a result of conflict between Russia and Ukraine pressured PVC consumption in Turkey. This week, traders will have to trim their US, Russian, and Mexican offers at the high ends of the overall market. Moreover, natural gas prices witnessed a surge due to the extended energy crisis in the European region.

As per ChemAnalyst, the prices of Poly Vinyl Chloride in the global market are expected to maintain the consistent rise in the price trend. Caustic soda prices in Europe are likely to surge as the supplies are expected to be disrupted since the energy crisis. Prices are expected to be high due to the low availability of inventories for fulfilling the demand. A rise in Caustic Soda prices is expected in the Asian market since the surging demand for pharmaceuticals resulted from a resurgence of Covid 19 in several countries.

Comments

Post a Comment

Popular posts from this blog

Acrylonitrile market follows divergent trends across the globe

Image
The market for Acrylonitrile has been depicting contrasting trends at different latitudes on account of distinct upstream cost and downstream demand in different territories. Acrylonitrile, produced from ammoxidation of propylene, is the upstream for ABS and Acrylic fibres. Hence, the fluctuations in the demand or prices of propylene and ABS majorly influence the market for Acrylonitrile. The Asian countries are witnessing a complete turnaround of Acrylonitrile prices from the other parts of the world, making them an exception. In Asian countries, the price of Acrylonitrile is falling, owing to the ample supply of upstream propylene. The stable to marginally lower demand for Acrylonitrile Butadiene Styrene (ABS) has also supported the price drop of Acrylonitrile in Asia. The numerical data from the continuing week confirmed the reports about this price dip. The evaluated price value implied a decrement of USD 5/MT from Monday to Tuesday in the ongoing week at FOB Korea and CFR China...
Read more

Agilyx Partners with Kumho Petrochemical on Chemical Recycling Plant in South Korea

Image
 Agilyx Corp. which is a major plastic recycling company in the United States, has announced a partnership with Kumho Petrochemical which is a manufacturer of synthetic rubber in South korea to develop and construct a chemical recycling facility in South Korea. The project will be using Agilyx’s unique and novel chemical recycling technology for the production of pure Styrene from post use Polystyrene price . The Styrene obtained from recycling will be used as virgin equivalent raw material to produce Solution Styrene Butadiene Rubber (SSBR) which is a major component for manufacturing tires. The project would include a new application for Agilyx’s  Polystyrene market demand price   depolymerization technology which is introduction of a new pathway for converting Polystyrene into SSBR. Agilyx is an early market leader in the advanced recycling of post use plastics which are difficult to recycle. Agilyx’s chemical recycling technology includes recycling of mixed plasti...
Read more