Suggestions on the future price trend of BOPP tape

2022 will end half a year ago, and China will also develop at the beginning of 2023.
The impact of three years on the world economy The global economic growth rate will slow down from 6.1% last year to 3.2% this year and 2.9% next year, which are 0.4 and 0.7 percentage points lower than the April forecast. This reflects stagnant growth in the world's three largest economies (United States, China, Eurozone), which has important implications for the global growth outlook.
Quote:
March 22, 2023: The U.S. dollar fell to a six-week low as the U.S. Federal Reserve is expected to raise interest rates slightly, while signaling an imminent pause in future rate hikes. In addition, U.S. refined oil inventories fell last week, and international oil prices rose for the third consecutive day. In May 2023, WTI rose 1.23 to US$70.90/barrel, an increase of nearly 1.8%. In May 2023, Brent rose 1.37 to US$76.69/barrel, an increase of 1.8%. China's crude oil futures SC 2305 closed up 10.8 yuan/barrel to 501.8 yuan/barrel.
What will this bring to the tape industry?
The most direct impact is bopp tape.
For the first time in China in 2023, the price of bopp raw materials should have been rising. However, with the weakening of China's consumption capacity and the Great Depression of the world economy, the price of bopp tape has been falling all the way. The latest quotation is 1.41usd/kg, which is the lowest price in 10 years during the same period. These are mainly due to sluggish demand due to weak consumption power and large economic downturn around the world.
However, as it enters the fourth quarter of 2023, it has been fully opened, and bopp prices will rebound and rise in the future.
LIANTU has been committed to the production of large bopp tape coated rolls and the sales of finished products. Regarding the recent low price of bopp, our advice to buyers is: you can buy a small amount and make some stocks to prevent the price from rising in the second quarter.
Although we cannot change the price of raw materials, we can provide high-quality tapes and price suggestions to reduce costs for all purchases and see the price trend clearly.
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