Description
Considering that it is expected that the overall impact of the coronavirus epidemic will gradually fade outside of Asia, global petrochemical companies have faced challenges caused by the war between Russia and Ukraine in the second half of 2022.
The war, which began in February 2022, has created new trade flows for some petrochemical products, particularly polymers, as European buyers began rejecting Russian products, increasing supplies from Russia to China. And as a result, the Asian market was under a lot of pressure to reduce prices.
In the first half of 2022, the price of naphtha, olefin, and related derivatives faced a significant decrease because, according to some experts, the prices have dropped enough. The market no longer expects the price to decrease further, so it expects the price to increase in the second half of 2022.
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