Asian polymer prices expected to peak

CGS-CIMB Research said based on the consultancy’s views it anticipated South-East Asian polymer prices to peak in Q2 and this would benefit the earnings of Lotte Chemical Titan Bhd (LCT) and Petronas Chemicals Group Bhd.

PETALING JAYA: After a slowdown in April, Asian polymer prices are expected to peak in the second quarter (Q2), which will determine the outcome and direction of the petrochemical sector.

Consultancy IHS Markit said with the additional polymer production capacity gradually being commissioned throughout the rest of 2021, and with the presumed normalisation of tight US and European supply conditions over the next few months, it expected South-East Asian polymer prices to peak in Q2 and later moderate in the following quarters.