European polymer prices were unchanged over the week to 4th September. In the UK, prices rose across all grades as the Pound lost value against the Euro.
Asian polymers rose with increases of between 20 and 70 USD per tonne reported in the prices of HDPE, LDPE, LLDPE, PET, PVC, ABS and Polystyrene. In China, the prices of Polypropylene and LDPE rose by 20 and 115 USD per tonne.
U.S. polymers were mixed with increases of 1 and 2 Cents per pound reported in the prices of HDPE and Polypropylene. There were reductions of between 1 and 2 Cents per pound noted in the prices of PET, Polypropylene and PVC.
West Texas Intermediate and Brent Crude rose to $91.48 and $96.28 per barrel respectively, increases of 9.7% and 9.3%.
Global oil prices hit six-week highs after new U.S. strikes on Iran and renewed Israeli threats against Tehran heightened concerns about disruptions to Middle East supplies.
Iran’s health minister said 18 people were killed and 108 wounded in the strikes. The Iranian Red Crescent emergency organisation said four people were killed and 67 wounded at a wedding ceremony near the coast of the Strait of Hormuz.
The latest attacks marked the most substantial exchange of fire between the U.S. and Iran since July, with the war now in its seventh month.
Israeli Defence Minister, Israel Katz renewed warnings that Israel would “cripple” Iran’s military and civilian infrastructure, including energy facilities, if Tehran launched attacks against it.
Elsewhere, Iraqi officials said they had increased oil exports to around 2.34 million bpd in August from about 1.35 million bpd in July, with September exports also expected to increase.