Bulletin: 155

Date:     February 3, 2023

 

We start 2023 with some uncertainties and concerns.

Russia’s war against Ukraine continues and the Western bloc continues to provide financial and weapons resources to repel the aggression.

The economic cost, not least that of human losses, is increasing every day and the positions of the parties remain immovable. I don’t know, it portends a near end, so the costs for the West, but especially for Europe, will continue to increase and reduce our GDP.

Year-on-year inflation in the EU is gradually falling, although at the same time, the economy is showing signs of weakness with a decline in the corresponding national GDP.

The ECB continues to raise interest rates and it seems they are going to rise more, which causes a decrease in business investment and slows down the consumption of durable goods, which in turn generates a decrease in the order book at all levels .

Energy costs have been contained slightly, although they are still higher than those of the pre-pandemic.

PET and other plastics have been affected by the entry into force since January of the €450/t tax on single-use containers and packaging.

The demand in January has been slightly below expectations, but there is already a greater search for PET with rPET in all its formulations in order to avoid having to apply, to its full extent, the tax on its products.

The price in January has fallen slightly, although some indicators show signs of rising in the short term.

The PX price for December has finally been known, which was €195/mt lower than in November, but in January of this year a first settlement points to a rise of €55/mt.

For its part, the MEG fell €60/mt in January.

 

BRENT OIL

 

Although in January there has been a slight rebound in the price of Brent oil, the last six prices have marked continuous daily declines.

The uncertainty about the recovery of the Chinese economy and the repercussion of the boycott measures in Europe against Russian refined products are generating uncertainty in the market.

 

RGPD: Data Protection Information of MARSELLÀ GLOBAL S.L. (smarsella@marsellaglobal.com):

PURPOSE: To inform you of our products and services by electronic means. LEGITIMATION: Legitimate interest in keeping you informed as a client and / or user. ASSIGNMENTS: Not contemplated. CONSERVATION: During the contractual relationship and / or until you request us to leave the business and, during the periods required by law to meet any responsibilities after the relationship ends. RIGHTS: You can exercise your right of access, rectification, deletion, portability of your data and limitation or opposition in the email address of the person in charge. In case of divergences, you can file a claim with the Data Protection Agency (www.aepd.es).

 

 

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.