European polymer prices rose over the week to 21st August. There were increases of 40 and 100 EUR per tonne reported in the prices of Polystyrene and ABS. In the UK, prices rose across all grades as the Pound lost value against the Euro.
Asian polymers also rose with increases of between 5 and 25 USD per tonne reported in the prices of PET, Polypropylene and Polystyrene. In China, the prices of HDPE, LDPE, LLDPE and PVC rose by between 5 and 30 USD per tonne.
U.S. polymers were mixed with reductions of between 1 and 2 Cents per pound reported in the prices of PET, Polypropylene, PVC and ABS. There was an increase of 2 Cents per pound noted in the price of Polystyrene.
West Texas Intermediate and Brent Crude rose to $87.06 and $94.39 per barrel respectively, increases of 5.7% and 6.6%.
Global oil prices continued to rise after U.S. President, Donald Trump threatened economic sanctions on Iran’s trading partners, raising expectations of tighter supply in the coming weeks.
Iran said its response to any new U.S. threats would be “devastating” after Washington pledged to impose the toughest financial penalties in history with the aim of toppling the Iranian leadership.
Due to the U.S. naval blockade across the Strait of Hormuz and the Gulf of Oman, Iran’s oil supply to China is understood to have dropped from an average of 1.4 million bpd in 2025 to around 534,000 bpd this month.
Unexpectedly, U.S. crude stocks rose by 4.4 million barrels last week, according to the Energy Information Administration.