Bulletin: 157

Date:     April 3, 2023

 

PET

The first quarter of the year has been characterized by a practical stability of the average price of PET, around €1,190/MT.

The slight decreases in this period in the price of PX have been offset by increases in the price of MEG.

The stocks accumulated in the last months of 2022, the uncertainty due to the implementation of the plastic tax and the low demand, have made this quarter less active than expected and than it was a year ago.

The imminent start of the spring/summer season and the decrease in stocks suggest a significant increase in demand from this month of April.

On the other hand, the unexpected announcement by OPEC to reduce oil production has meant that in just one day of trading, the price of Brent oil has experienced an increase of 6%, which could predict an increase in the next 2 months of PET raw materials.

BRENT OIL

 By surprise, OPEC+ has announced a decrease in oil production by 1.66 million barrels per day in its production, after both Russia and Saudi Arabia announced their desire for a production readjustment to take place.

At the time of writing this bulletin, Brent oil has increased its price by 6.17% after the OPEC+ announcement

 

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Este boletín está elaborado en base a la información y experiencia de nuestro equipo comercial. Marsella Global, SL presta especial atención a su elaboración, sin embargo, no podemos garantizar la exactitud y utilidad del contenido publicado.

El destinatario acepta el contenido de este boletín en el bien entendido de que Marsella Global, SL   no se hace responsable de los daños causados por el uso de la información contenida en este documento.