European polymer prices rose over the week to 25th September. There were increases of 10 EUR per tonne reported in the prices of LDPE and Polypropylene. In the UK, prices rose across all grades as the Pound lost value against the Euro.
Asian polymers were mixed with reductions of 20 USD per tonne reported in the prices of Polypropylene, ABS and Polystyrene. There was an increase of 20 USD per tonne noted in the price of PVC. In China, the prices of HDPE, LDPE, LLDPE and PET fell by between 10 and 50 USD per tonne.
U.S. polymers fell with reductions of between 1 and 2 Cents per pound reported in the prices of PET, Polypropylene and ABS.
West Texas Intermediate fell to $92.82 per barrel, a reduction of 7.5%. Brent Crude rose to $104.32, an increase of 0.4%.
Global oil prices rose but slipped back on Friday on mounting hopes for a truce between the US and Iran and a possible US ban on diesel exports, though concerns remain that increasing attacks against Saudi Arabia by Houthi fighters could disrupt supplies.
US and Iranian negotiators in New York are exploring a phased path out of war that would involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran.
Iran said it will not be flexible over its nuclear program even if the US accepts its proposal to reopen the Strait of Hormuz, which calls for steps including lifting a US naval blockade on Iranian ports.
Washington’s talk of a possible ban on diesel exports is widening the gap between WTI and Brent, an indication that markets expect US refiners to process less crude oil if their diesel output cannot be exported.