Global PE price war begins

Market analysts said that a global PE (polyethylene) price war is unfolding, and there are two main factors behind .

Massive release of production capacity

Last year, the first batch of PE projects in the United States using shale gas as raw materials were put into operati.

ICIS data shows that China, Russia and South Korea are also significantly increasing PE production capaci.

Affected by the vigorous development of shale oil and gas, the supply of cheap ethane raw materials has increased, making the United States one of the lowest-cost PE producers in the wor.

Demand growth is stagnant

Nearly all of the new.

In times of high demand, other markets were able to absorb the flood of new PE products from the US without causing too much disrupti.

The Indian government will begin on October 2 the first phase of its nationwide single-use plastic ban, which will cover single-use plastic products such as plastic bags, cups, plates, small bottles and stra.

The European Commission’s Waste Framework Directive plans to achieve a target of 50% municipal waste recycling rate by 202 Recently, the European Commission further set a municipal waste recycling rate target of 55% by 2025 and 65% by 203 As a result, brands are under increased pressure to use recycled polyme.

While.

price falls to low

PE prices have fallen to multi-year lows as.

In Turkey, PE prices fell to a five-year l.

PE prices in African markets have fallen to their lowest levels since records began nine years a.

In Europe, LLDPE spot prices are at their lowest levels since the 2009 global financial cris.

        Prices for PE in the Gulf Cooperation Council (GCC) region are also falling, with weaker demand leaving suppliers in the region with excess inventori.