the price will keep moving around 20 till 24 until it starts a new uptrend movement. It closed at 22 for few days already, the momentum looks strong enough to break 24 resistance to reach TP1 26.
Although they are the building blocks of thousands of everyday products, plastics and their chemical ingredients do not trade on major commodity exchanges, and large price moves are largely invisible to the wider world. Yet polyvinyl chloride, or PVC, is in the midst of a dramatic rally, driven by a combination of rebounding global consumer demand and production outages from last month's Texas freeze.
More than 60% of US PVC is still offline nearly a month after freezing weather hit Texas and Louisiana and decimated the power grid, according to ICIS, a data provider. PVC is a major construction material used for pipes, cable insulation, flooring and roofing, and the US has become the world's biggest exporter of the plastic in recent years.
Polypropylene prices are at record levels and more than double the 2019-2020 average, according to ICIS, But that is just the tip of the iceberg: PVC is also trading at record highs while high-density polyethylene, used for shampoo bottles and grocery bags, is at the highest since 2008.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2905 views | 2 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
GemenchehLawyer
299 posts
Posted by GemenchehLawyer > 2021-02-26 19:11 | Report Abuse
Director family member bought again at 0.22. Wait to push?