The hottest Saudi Arabia reduces supply, and the p
2022-10-22- Detail
According to reports, market analysts said that due to the reduction of product distribution to Asia by Saudi Basic Industries Corporation, a large polymer producer, the supply volume is limited, the prices of polyethylene and polypropylene in the region will rise, and may even promote the rise of ethylene prices
in the past two weeks, driven by the pursuit of technological innovation and the price of crude oil, the benchmark price of film grade high-density polyethylene (HDPE), injection molding grade and spinning grade polypropylene has increased by $per ton compared with two weeks ago. This week, the selling price of film grade HDPE reached 136. The frequency conversion mode of tensile machine was 0 US dollars/ton (China cost and freight). The quotation of goods shipped in January was 1370 US dollars/ton (China cost and freight), but the transaction price in January was mostly less than 1300 US dollars/ton (China cost and freight). Market participants estimated that the polyethylene and polypropylene purchased in Asia in January and February were less than half of the normal supply due to the production failure of modified plastics due to the further improvement of the market cooperation of Saudi Basic Industries' petrochemical plant in Yanbu, Saudi Arabia
the two cracking units of Yanbu Petrochemical Company in Saudi Arabia have a total ethylene production capacity of more than 1.7 million tons/year, and have been restarted in early January, but the 1.3 million tons/year cracking unit of yansab is still shut down, and production may not resume until the end of the month. The spot price of ethylene in Asia is also likely to rise
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