The Plastic Market has Completely Collapsed! POM/PVC/ABS/PET Plummeted by Up to 2000!

Under the collapse of the crude oil belt, the chemical raw material sector continues to collapse! The futures market is bleak green, and the spot market opens directly!

The crude oil market plummeted, the Yuyao POM market fell sharply, the cost-side support was weakened, and the spot inventory had to be digested; the market trend was weak, and the profit margins for traders gradually increased; M270 fell by 2,000 CNY/ton in a single day.

The spot price of PVC has plummeted. The Tianjin market 5 type generally fell by 220 CNY/ton, and the Ordos 5 type was quoted at 6130 CNY/ton. In some areas, the 5 type market price could not even keep the 6000 mark!

Looking at the two major markets of ABS, it is also appalling! ABS/Ningbo LG Yongxing/121H was quoted at 10,850 CNY/ton (tax excluded), if Nima fell again, ABS would not be able to keep the 10,000 mark; on the other side of the Yuyao market, ABS/Tianjin Dagu/417 was quoted at 11,700 yuan/ ton (tax included), the pessimistic atmosphere in the market is spreading, the terminal demand is weak, and there is no good support for now, too much, too much!

PTA fell to the limit, and the downstream polyester was not easy! In South China today, Zhuhai China Resources, Guangdong Taibao, Guangzhou Pan Asia, and Hainan Yisheng have lowered their ex-factory prices by 100 yuan. In the Northeast region, Dalian Yisheng/Water bottle level fell by 100 CNY/ton in a single day, and the risk card was near the 8000 mark.

What’s more, the price of PC, PA6, and PBT new materials has dropped to one price, all falling to about 15,000 CNY/ton! It's magical!

In the past six months, the market price of PC in South China has plummeted by 8,975 CNY/ton from the original high of 24,920 CNY/ton. As of July 12, the average price of PC new materials in the South China market was 15,945 CNY/ton!

In the past six months, the price of PA6 has been like a roller coaster. It has either skyrocketed or plummeted. In half a year, it has dropped from 17,000 CNY/ton to 1,965 CNY/ton. As of July 12, the mainstream average price of new PA6 materials in the East China market was 15,035 CNY/ton. 

The price of PBT has fallen from 19,750 CNY/ton in the past six months. Especially in the past month, the decline has expanded and plunged to 5,200 CNY/ton. As of July 12, the mainstream average price of PBT new materials in the East China market Reported 14500 CNY/ton!

At present, the plastics industry continues to be in a situation of weak supply and demand. In terms of crude oil, there is a long-short game of crude oil, and the trend is full of uncertainty. The chemical manufacturers in the middle of the industrial chain have entered the stage of "zero profit production", and the end consumer market is stubbornly going through the winter, and no one dares to act rashly. And many plastics continue to be out of the "off-season" from the fundamentals, the demand continues to be poor, and the price is difficult to see improvement.