|2020-12-09 来源： 中国石化新闻网|
李峻 编译自 石化新闻
Global polyethylene markets expecting oversupply in H1 2021
Global polyethylene markets were expected to enter 2021 facing oversupply, much like that seen in early 2020, which could soften prices that soared when output tightened amid a one-two punch from 2020 hurricanes that hit the US Gulf Coast.
New capacity was on tap to start up in Asia, in addition to restoration of normal rates in the aftermath of US hurricanes that hit Southwest Louisiana and Southeast Texas in August and October.
While PE demand has been largely resilient throughout the global coronavirus pandemic, overall softness compared to pre-coronavirus levels was largely expected to linger as regions struggle with infection surges and continued unemployment.
"As we head into 2021, the numerous plant outages that started in the US Gulf Coast with Hurricane Laura and then expanded globally will come to an end," said Rob Stier, senior lead of petrochemicals. "As capacity returns to the market, supply will increase and prices will come under pressure."