Global crude oil futures settled lower on Friday as European leaders agreed to release emergency fuel reserves to cool spiralling product prices, though persistent Middle East war risks and strikes on Russian refineries limited losses for Brent.
Saudi Aramco raised its LPG contract prices for a third consecutive month in October, as elevated freight costs, a constrained US-to-Asia arbitrage and lingering supply disruption in Saudi Arabia tightened the regional supply balance ahead of the winter heating season.
The divergence has left larger pipe manufacturers relatively better supported, while profiles, smaller pipe converters and soft-product manufacturers continue to operate under significant pressure.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 8,631 +22 | 8,197 -3 | 4,999 +206 |
| Close (USD/ton) | 1,140 +3 | 1,083 -0 | 660 +31 |
| Volume | 586,379 -29427 | 370,906 -25934 | 1,042,585 -36836 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 9,206 -20 | 6,300 +46 | 4,782 +84 |
| Close (USD/ton) | 1,216 -3 | 832 +7 | 632 +13 |
| Volume | 101,556 -22984 | 1,016,989 -70523 | 162,685 -3159 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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