European polymer prices rose over the week to 30th October. There were increases of between 10 and 195 EUR per tonne reported in the prices of LDPE, PET, Polypropylene, ABS and Polystyrene. In the UK, prices fell across some grades as the Pound gained value against the Euro.
Asian polymers rose with increases of between 5 and 80 USD per tonne reported in the prices of HDPE, LDPE, LLDPE, PET, Polypropylene, PVC, ABS and Polystyrene.
U.S. polymers also rose with increases of 1 and 2 Cents per pound reported in the prices of PVC and ABS.
West Texas Intermediate and Brent Crude were relatively unchanged at $104.12 and $113.43 per barrel respectively.
Global oil prices remained at a four-month high as the market prepared for a potential escalation in the US-Iran conflict after the US midterm elections.
On Friday, a tanker in the Strait of Hormuz was hit by explosive devices attached to a small boat, the United Kingdom Maritime Trade Operations said, although it was not clear who was behind the attack.
Earlier in the week, Yemen’s Iranian-backed Houthi militants said they had attacked several sites in Saudi Arabia, including its largest oil refinery, Ras Tanura, the Rabigh refinery and a production facility in Abqaiq owned by state company Saudi Aramco.
It is understood that ExxonMobil and Chevron have cancelled plans for their staff to travel to the ADIPEC oil exhibition in Abu Dhabi next week.