Alarming the serious shortage of raw materials for the plastic industry

Alarming the serious shortage of raw materials for the plastic industry 03/01/2022

Affected by the global Covid pandemic and the period of production line maintenance, factories in the US and Asia reduced production, speculators hoarded goods, causing the price of plastic materials to rise in recent months. early 2021.

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The scarcity of raw materials for the plastic industry is forecasted to continue to increase because the frost in February 2021 caused a large-scale blackout in the state of Texas - USA, not only making the people here miserable, but also causing serious problems. Another consequence, for many chemical plants to close, disrupted global supply chains.

Prices for polyethylene, polypropylene and other chemical products used to make auto parts, computers and a wide range of plastic products have hit multi-year highs in the US amid limited supplies. For example, the price of PVC products has doubled since last summer, according to statistics from S&P Global Platts.

The high price of PVC plastic products is not only due to limited supply but also affected by the shortage of containers, making the freight rates for import and export goods increase rapidly. Imported PVC K67 price is assessed to increase from 90 USD/ton to 120 USD/ton at 1400-1500 USD/ton CIF China, 1440-1530 USD/ton CIF Southeast Asia and 1560-1650 USD/ton CIF India Degree. At these levels, prices are at their highest levels since ChemOrbis started to hold records in 2008. The producer is likely to announce April offers next week while business forecasts are falling. calls for a three-digit increase.

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