European polymer prices were mixed over the week to 26th April with increases of between 15 and 30 EUR per tonne reported in the prices of PVC, ABS and Polystyrene. There was a reduction of 11 EUR per tonne noted in the price of PET. In the UK, prices rose across most grades as the Pound lost value against the Euro.
Asian polymers rose with increases of between 5 and 40 USD per tonne reported in the prices of Polypropylene, ABS and Polystyrene. In China, the price of Polypropylene was unchanged.
U.S. polymers remained static apart from a 7 Cents per pound reduction reported in the price of ABS.
West Texas Intermediate and Brent Crude oil rose to $83.73 and $88.06 per barrel respectively, increases of 1.9% and 0.8%.
Global oil prices lifted on concerns of disruptions in Middle East supply as increased airstrikes on Gaza’s Rafah and on the U.S. Treasury secretary’s comments that the economy was performing well.
Israel said it would evacuate civilians from the southern Gazan city and launch an all-out assault despite allies’ warnings this could cause mass casualties.
Further supporting prices, Treasury Secretary, Janet Yellen, said U.S. economic growth was likely stronger than suggested by weaker-than-expected quarterly data.
Oil prices had been pressured by figures showing growth slowed more than expected in the first quarter and inflation increased.