General resin prices stayed mostly weak last week as crude oil futures declined, with polypropylene (PP) dropping US$5 per metric ton while polystyrene (PS) and ABS held flat. With China’s National Day holiday approaching, market sentiment is expected to soften further, pressuring short-term operations for suppliers such as Formosa Chemicals & Fibre, Grand Pacific Petrochemical, and Taita Chemical.
Crude oil decline drives resin demand slowdown
International crude oil futures fell for four consecutive sessions last week, driven by concerns over strong supply and persistent weak demand, which outweighed expectations that the Federal Reserve’s first rate cut of the year would boost consumption. OPEC’s ongoing reduction in production cuts also added downward pressure. On September 22, NYMEX October light crude settled at US$62.64/barrel, down US$0.04, while ICE November Brent crude fell US$0.11 to US$66.57/barrel, cooling buying interest in general resins.
Price movements across key resin grades
Over the past week, polypropylene (PP), used in medical equipment, declined US$5/mt. ABS, applied in home appliances and automotive interiors, and polystyrene (PS), used in beach shoes and appliance packaging film, both remained flat. For polyethylene (PE), the three main grades are in their traditional demand season, but end-user orders have been insufficient to drive significant improvement.
What buyers should watch
With China’s National Day holiday approaching, downstream demand is likely to weaken further in the near term. Importers and distributors should monitor crude oil trends and OPEC supply decisions, as these will continue to influence resin pricing. The current flat-to-soft market may offer short-term buying opportunities, but caution is advised given the lack of strong demand signals from end-use sectors like appliances and packaging.
Source: Read the original report | Published: September 24, 2025