According to the data monitoring of toodudu, the average ex-factory price of LLDPE (7042) in East China was 8,166.67 RMB/ ton on December 21 and 8,133.33 RMB/ ton on December 25, with a drop of 0.41% in the week and 2.01% compared with December 1 at the beginning of the month. The average ex-factory price of LDPE (2426h) in East China was 11,537.50 RMB/ ton on December 21 and 11,387.50 RMB/ ton on December 25, down 1.30% in the week and 7.98% compared with December 1 at the beginning of the month. The average ex-factory price of HDPE (5000S) in East China was 8,366.67 RMB/ ton on December 21 and 8,266.67 RMB/ ton on December 25, down 1.20% in the week and 4.98% compared with December 1 at the beginning of the month. Last week, the overall trend of PE spot market was weak, mainly falling, and the three kinds of spot all fell to varying degrees. According to the data monitoring of toodudu, the price of 2426H in East China of LDPE fell most obviously, with a drop of about 200 RMB/ ton. T...

Ineos and Sinopec signed three back-to-back deals worth a combined value of $7 billion.   These landmark agreements are expected to generate a combined turnover of around $10 billion from 7 million tons of capacity. The three agreements will significantly reshape INEOS’ petrochemicals production and technology in China. Firstly, INEOS has agreed to acquire a 50% stake in Shanghai SECCO Petrochemical Company Limited (SECCO), a subsidiary of China Petroleum & Chemical Corporation (SINOPEC). SECCO currently has a production capacity of 4.2 million tons of petrochemicals – including ethylene, propylene, polyethylene, polypropylene, styrene, polystyrene, acrylonitrile, butadiene, benzene and toluene. It is a 200-hectare facility, located inside the Shanghai Chemical Industry Park. Secondly, INEOS has agreed to establish a new 50:50 joint venture with SINOPEC with the intent to build production capacity of up to 1.2 million tons of ABS, to meet rapi...