Middle East polyols market outlook is somewhat uncertain in the first quarter of 2022 as a result of raging spread of Omicron variant of COVID-19 in the world and still very high freight rates making shipment costs expensive.
The Middle East base oils spot market faces an uncertain outlook in 2022, with supply of most grades expected to be largely sufficient but demand expected to remain stable to soft due to sluggish economic growth and global automotive sales.
Asia’s fatty alcohol ethoxylates (FAE) market is expected to see emerging Chinese spot interest in early January, despite concerns over the impact of Omicron on global economic recovery.
Asian Nylon 6, or polyamide (PA) resins 6, is set to start the year on shaky ground, on the back of gloomy derivative automotive projections as several lockdowns have been imposed due to Omicron.
Asia’s ethylene vinyl acetate (EVA) market faces near-term headwinds on rising supply, but demand growth driven by the renewable energy and photovoltaic (PV) industry is poised to support capacity expansions longer term in 2022.
The supply shortage in the European acrylonitrile-butadiene-styrene (ABS) market is expected to continue until Q2 2022 at least due to ongoing pressures including production issues and low imports amid strong demand trends.
US polyethylene terephthalate (PET) market fundamentals remain strong amid robust demand and stable pricing for virgin resin while prices for recycled PET increased.
Crude futures extended their ascent on Wednesday, as investors continued to focus on price supportive developments. US crude stockpiles fell for the sixth consecutive week on Wednesday, confirming industry reports released late on Tuesday. - ICIS-