European polymer prices rose over the week to 23rd October. There were increases of between 10 and 70 EUR per tonne reported in the prices of HDPE, LDPE, LLDPE, PVC and ABS. In the UK, prices fell across some grades as the Pound gained value against the Euro.
Asian polymers were mixed with increases of between 5 and 30 USD per tonne reported in the prices of HDPE, LDPE, LLDPE, Polypropylene, ABS and Polystyrene. There were reductions of 5 and 15 USD per tonne noted in the prices of PVC and PET. In China, the prices of HDPE, LDPE, LLDPE, PET and Polypropylene fell by between 5 and 35 USD per tonne.
U.S. polymers were unchanged.
West Texas Intermediate and Brent Crude rose to $103.27 and $116.72 per barrel respectively, increases of 1.8% and 6.2%.
Global oil prices rose to their highest level in almost six months after Houthi attacks in Saudi Arabia raised concerns over further disruption to energy supplies from the Middle East.
Clashes between the Houthis and a Saudi-led coalition that backs Yemen’s internationally recognised government have raged since the Iran-aligned Houthis pushed towards Bab el-Mandeb Strait last month, a shipping chokepoint at the mouth of the Red Sea which leads to the Suez Canal.
Ship tracking data showed the first Russian diesel bound for the US since Moscow and Washington reached an export agreement was aboard a tanker heading for New York. U.S. President, Donald Trump announced the deal earlier this month in an effort to bring down soaring diesel prices.
Trump said that the US could end the war with Iran quickly, but added that perhaps Washington should allow the conflict to gradually wind down.