BP returned to profit in the third quarter, but the global coronavirus crisis continued to hit demand for oil.   BP said underlying replacement cost profit, its definition of net income, was $86m from July to September. That was down from $2.2bn a year earlier, but a big improvement on its massive second-quarter loss of […]

European polymer prices fell over the week to 23rd October with reductions of 10 EUR per tonne reported in the prices of HDPE, LDPE and LLDPE. There was an increase of 10 EUR per tonne noted in the price of PVC.   Asian polymers rose with increases of between 5 and 90 USD per tonne […]

Soft drink producer Britvic, has announced its intention for all its plastic bottles in the UK to be made from 100% recycled plastic (rPET) by the end of 2022.   The announcement comes three years earlier than the company planned, and this comes ahead of the original 50% recycled polymer target.   The move to […]

The International Monetary Fund (IMF) has downgraded the growth forecast for the Asia Pacific region again, this time from -1.6% to -2.2% for this year.   It added, however, the glimmer of hope is for a bounce back of almost 7% next year.   China will play a big part in the region’s growth next […]

China’s economy continues its recovery from the Covid-19 pandemic according to its latest official figures.   The world’s second-biggest economy saw growth of 4.9% between July and September, compared to the same quarter last year.   However, the figure is lower than the 5.2% expected by economists.   China is now leading the charge for […]

European polymer prices were largely unchanged over the week to 16th October. There was an increase of 10 EUR per tonne reported in the price of PVC. In the UK region of Europe, prices fell slightly across some grades as the Pound gained value against the Euro.   Asian polymers rose with increases of between […]

Sultan Ahmed bin Sulayem, the chairman and CEO of Dubai-based DP World, has said that Israel’s peace deals with the UAE and Bahrain are “going to be big” for business and trade in the region.   He added that they will remove barriers to business links previously “not allowed”, by shortening trade routes and making […]

China has recorded strong growth in trade, while other major economies still struggle with the impact of coronavirus.   Exports in September rose 9.9%, while imports grew 13.2%, official data show.   The increase in imports cut China’s trade surplus to $37bn from $59bn in August.   Most other large economies are expected to suffer […]

The International Monetary Fund is forecasting a somewhat less severe recession than it predicted in June.   The change in the outlook applies to both the global economy and the UK.   But the IMF says in its World Economic Outlook that the global economy is still in deep recession and the risk of a […]

European polymer prices were mixed over the week to 9th October. There was an increase of 40 EUR per tonne reported in the price of PVC and a reduction of 5 EUR per tonne noted in the price of Polypropylene. In the UK region of Europe, prices fell slightly across some grades as the Pound […]