European polymer prices were unchanged over the week to 19th April apart from a 20 EUR per tonne increase reported in the price of ABS. In the UK, prices fell across most grades as the Pound gained value against the Euro.
Asian polymers were mixed with an increase of 40 USD per tonne reported in the price of ABS. There were reductions of between 5 and 10 USD per tonne noted in the prices of HDPE, LLDPE and PVC. In China, the prices of LDPE, LLDPE and ABS rose by 20 USD per tonne. The prices of PET and PVC fell by 10 and 15 USD per tonne.
U.S. polymers were unchanged.
West Texas Intermediate and Brent Crude oil fell to $82.13 and $87.39 per barrel respectively, reductions of 3.9% and 3.1%.
Global oil prices slipped back after Iran played down reported Israeli attacks, in a sign that an escalation of hostilities in the Middle East might be avoided.
Explosions were heard in the Iranian city of Isfahan on Friday in what sources described as an Israeli attack, but Tehran played down the incident and said it did not plan to retaliate.
Iran is the third largest oil producer in OPEC and, although prices recorded their biggest weekly loss since early February, investors are not ruling out Middle Eastern tensions will disrupt future supplies.
The European Central Bank has indicated that an interest rate cut is coming in June, but policymakers differ on how low interest rates must drop before starting to stimulate the economy.