Sustainable Plastics - January/February 2024 - 30

polymer prices
Rollovers across the board
at start of new year
S
tandard thermoplastic
prices fell across the
board once again in
December 2023 trading
following a further downturn
in upstream costs, but they
have since stabilised at the beginning
of the new year.
Last month, LDPE, HDPE
and PP prices fell by €30/
tonne, which matched the reduction
of €30/tonne for both
the ethylene and propylene
contract prices. LLDPE prices
fell by €50/tonne due to very
weak sales.
Base PVC prices fell by €30/
tonne, which was more than
the proportionate reduction of
€15/tonne on the PVC production
cost base resulting from
the €30/tonne decline in the
cost of ethylene. Polystyrene
prices fell by €110/tonne, which
was slightly less than the €116/
tonne reduction for the styrene
monomer reference price. PET
prices slipped €15/tonne as a
result of lower costs and very
weak demand.
Prices across all polymer
classes were rolled over during
the first two weeks of January
as both the ethylene and
propylene contract prices remained
unchanged from December
levels.
Base PVC prices also rolled
over following unchanged ethylene.
Polystyrene producers
called for a €10/tonne price increase
at the beginning of the
new year but had to settle for a
price rollover. PET prices were
largely unchanged despite a
reduction in the December
paraxylene reference price.
Supply tight
Polymer supply is very low
across all classes. Producers
are maintaining low run rates in
order to match availability to the
low demand and to prevent surplus
stocks developing. There
have also been several planned
and unplanned plant outages,
particularly affecting the
polyolefins sector. Despite the
30
ExxonMobil site at
Notre-Dame-deGravenchon
Prices
Monitor January 2023 - January 2024
PET PVC LLDPE HDPELDPEPPPS
3.0
2.5
2.0
1.5
1.0
production cutbacks and plant
outages, there is still enough
material across all polymer
classes to meet demand.
The attacks on commercial
shipping in the Red Sea is leading
to late arrival of cargos from
Asia and rising freight rates.
A summary of the latest supply-related
market developments
are summarised below:
* Versalis is in the process of
restarting several polyethylene
plants at its southern Italian
site at Brindisi. The plants were
shut down following an explosion
at an ethylene pipeline
January/February 2024
and subsequent fire on 13 November
2023
* ExxonMobil has halted operations
at a French production
facility in Notre-Damede-Gravenchon,
and because
the company initiated flaring
activities there on 11 December
2023, the stoppage has likely
included the cracker
* JBF Global Europe announced
the temporarily shut
down of one of its PET plants
at Geel in Belgium in October
2023, and the company subsequently
announced that the
second line would cease production
in November due to
economic reasons
* Ineos plans to cease operations
at the smaller and older
of its two production lines for
terephthalic acid (PTA) at Geel,
Belgium, citing high costs, and
added that production in Europe
is not competitive with
imports from Asia.
PET
PVC
Demand very weak
Demand more or less collapsed
in the run-up to Christmas
and has barely recovered
at the start of the new year.
There is a small upturn in January
sales for PE, but for most
classes, demand remains well
below what would normally be
expected for the time of year.
LLDPE
HDPE
LDPE
PP
PS
Outlook
No major price movements are
to be expected over the second
half of January as most supply
agreements were settled early
in the month. As upstream
costs have remained fairly stable
over the last month or so,
cost pressure on polymer prices
is likely to be minimal next
month. The attacks on shipping
in the Red Sea leading to
longer lead times and rising
freight rates may support firmer
Asian polymer prices.
€/kg
2023
2024

Sustainable Plastics - January/February 2024

Table of Contents for the Digital Edition of Sustainable Plastics - January/February 2024

Contents
Sustainable Plastics - January/February 2024 - Cover1
Sustainable Plastics - January/February 2024 - Cover2
Sustainable Plastics - January/February 2024 - Contents
Sustainable Plastics - January/February 2024 - 4
Sustainable Plastics - January/February 2024 - 5
Sustainable Plastics - January/February 2024 - 6
Sustainable Plastics - January/February 2024 - 7
Sustainable Plastics - January/February 2024 - 8
Sustainable Plastics - January/February 2024 - 9
Sustainable Plastics - January/February 2024 - 10
Sustainable Plastics - January/February 2024 - 11
Sustainable Plastics - January/February 2024 - 12
Sustainable Plastics - January/February 2024 - 13
Sustainable Plastics - January/February 2024 - 14
Sustainable Plastics - January/February 2024 - 15
Sustainable Plastics - January/February 2024 - 16
Sustainable Plastics - January/February 2024 - 17
Sustainable Plastics - January/February 2024 - 18
Sustainable Plastics - January/February 2024 - 19
Sustainable Plastics - January/February 2024 - 20
Sustainable Plastics - January/February 2024 - 21
Sustainable Plastics - January/February 2024 - 22
Sustainable Plastics - January/February 2024 - 23
Sustainable Plastics - January/February 2024 - 24
Sustainable Plastics - January/February 2024 - 25
Sustainable Plastics - January/February 2024 - 26
Sustainable Plastics - January/February 2024 - 27
Sustainable Plastics - January/February 2024 - 28
Sustainable Plastics - January/February 2024 - 29
Sustainable Plastics - January/February 2024 - 30
Sustainable Plastics - January/February 2024 - 31
Sustainable Plastics - January/February 2024 - 32
Sustainable Plastics - January/February 2024 - 33
Sustainable Plastics - January/February 2024 - 34
Sustainable Plastics - January/February 2024 - Cover3
Sustainable Plastics - January/February 2024 - Cover4
https://www.nxtbookmedia.com