@jitnep If we further connect it to olefins supply-demand outlook…According to S&P reports and insider comments, the supply of polyethylene (PE) is expected to lenghten due to many Chinese plants starting their commissioning. Initially, packaging manufacturers were predicting that the demand for polypropylene (PP) and PE would rise by the end of 2023, but the current outlook has changed.
There are noises about combined effect of inflation and Federal Reserve rates, there are concerns that the demand for the plastic packaging products in EU/US might stay slow for around 2 years.
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