European polymer prices were largely unchanged over the two weeks to 9th January. There was an increase of 5 EUR per tonne reported in the price of Polystyrene. In the UK, prices fell against most grades as the Pound gained value against the Euro.
Asian polymers rose with increases of between 5 and 45 USD per tonne reported in the prices of PET, PVC, ABS and Polystyrene. In China, the prices of HDPE and PET rose by 5 and 30 USD per tonne. The prices of LDPE and LLDPE fell by 10 USD per tonne.
U.S. polymers were mixed with reductions of 1 and 2 Cents per pound reported in the prices of LDPE and ABS. There was an increase of 2 Cents per pound noted in the price of HDPE.
West Texas Intermediate and Brent Crude rose to $59.12 and $63.34 per barrel respectively, increases of 4.2% and 4.5%.
Global oil prices rose on supply concerns linked to intensifying protests in oil-producing Iran and an escalation of attacks in Russia’s war in Ukraine.
The protests in Iran erupted over worsening economic conditions and have grown into the largest in years leading to calls for an end to the Islamic Republic and some urging the restoration of the monarchy.
Iran’s Supreme Leader, Ayatollah Ali Khamenei, has called anti-government protesters “troublemakers” who are trying “to please the president of the US”.
The Russian military reported it had fired its hypersonic Oreshnik missile at targets in Ukraine. The targets included energy infrastructure supporting Ukraine’s military-industrial complex, the Russian defence ministry said in a statement.