In 2021, the polyethylene and polypropylene market was negatively impacted by the pandemic. With high supply but low demand, and especially a competitive quotation process, prices for these items have fallen sharply. For example, some Korean suppliers chose to offer low prices to free up inventory. On the other hand, the impact of the epidemic caused a long shipping delay, and high transportation costs caused bottlenecks in the supply chain.
In China and some Southeast Asian countries have started to receive quotes for January 2022 from suppliers, the price is lower than 2 weeks ago and this steady downward trend has been apparent since about May 1, 2020. October 2021.
On a positive note, the primary plastic market may be more prosperous in 2022. When countries have implemented economic stimulus policies, buyer demand is also boosted, especially in the quarter. beginning of the year. In addition, as countries such as Korea, China and the U.S. are ready for the supply race, the PP and PE market is expected to see more drastic fluctuations.
We can see that the market has started to have some changes after the time when large manufacturers imported very little or only a moderate level, now there is a movement to find and import goods from factories and workshops to buy goods. Solve inventory problems.
Reference source: https://www.chemorbis.com/vi/plastics-news/