For the Quarter Ending December 2022
North America
The market value of Polyolefin Plastomer in the North American market showed contrasting attitudes in the fourth quarter of 2022 due to variations in downstream demand from various industries. In line with the uneven growth of the construction and automobile industries, there were ups and downs in demand for Polyolefin Plastomer. Upstream costs and fluctuating manufacturing costs both had an impact on the market growth for Polyolefin Plastomer. As a result, the price trend for Polyolefin Plastomer decreased in October, increased in November, then decreased once more in December. The destocking in December also contributed to the decline in the price of Polyolefin Plastomer as the year came to an end. As a result, Polyolefin Plastomer (POP) estimated value in the USA was USD 3800/MT FOB USGC in December, which was 5% lower than the price in September.
APAC
Unlike the North American market, the price of Polyolefin Plastomer (POP) in the Asia-Pacific region surged in October, only to decline in November and then become stagnant for the rest of the quarter. In the fourth quarter of 2022, the market value of polyolefin elastomers in the APAC market displayed conflicting attitudes because of changes in downstream demand from diverse industries. There were ups and downs in demand for Polyolefin Plastomer, which was consistent with the uneven expansion of the construction and automotive industries. Polyolefin Plastomer's market growth was impacted by both upstream costs and variable production costs. As a result, the assessed value of Polyolefin Plastomer (POP) in China was USD 3045/MT CFR Qingdao in December, which was 8.4% less expensive than the cost in September.
Europe
Amidst changes in downstream demand from various industries, the market value of Polyolefin Plastomer in the European market displayed conflicting attitudes in the fourth quarter of 2022. Polyolefin Plastomer demand fluctuated along with the unequal expansion of the construction and automotive sectors. The inconsistency in the Polyolefin Plastomer market was also influenced by upstream costs and variable production costs. As a result, the price trend for Polyolefin Plastomer declined in October, climbed in November, and then decreased once more in December. The price drop of Polyolefin Plastomer as the year came to a finish was also influenced by the destocking in December. The estimated value of Polyolefin Plastomer (POP) in Germany was USD 3480/MT FD Hamburg, which was 1.9% lesser than the price in September.
For the Quarter Ending September 2022
North America
During the third quarter of 2022, Polyolefin Plastomer prices initially showed a bullish trend; however, the prices have fallen sharply since, owing to weak demand sentiment and ample supply. Initially, the demand dynamics outstripped the available supply as the supply chains remained under pressure in the US. However, the demand dynamics deteriorated as the speculations around a US recession intensified, resulting in stabilization in volume offtakes from key industries, including automotive and construction industries. Supply chains also improved as the freight charges dropped drastically from Asia to North American routes. Thus, after the conclusion of Q3, Polyolefin Plastomer prices were assessed at USD 4000 per MT FOB USGC.
APAC
The lack of inventories and stable demand dynamics in the Asian markets prompted the market participants to increase the prices of the available material. Demand from the downstream industries remained steady as the market participants looked to procure the material ahead of the festive season and holiday season in the Asian region. The prices rose consistently throughout the quarter; Polyolefin Plastomer prices rose 4.7% in July, then again around 3% in August, and finally settled at USD 3325 per MT on CFR basis in September 2022.
Europe
Polyolefin Plastomer prices dipped consistently in the European market throughout the third quarter of 2022 owing to ample inventory levels and cheaper imports from the US. High energy costs catapulted the overall cost of production, which prompted manufacturers to increase the prices; however, weak demand meant there were limited queries for the material, which forced manufacturers to cut the production rates. However, cheaper imports from the Asian region compensated for the production cuts in the European market. Hence, there was always ample availability of more inexpensive materials in the domestic market during Q3. Thus, after the conclusion of Q3, Polyolefin Plastomer prices were assessed at USD 3546 per MT on an FD basis.
