Polymerupdate Asian resin pricing, March 9-13: PE holds steady while PP, PS climb

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March 17, 2009

Low-density polyethylene (LDPE) markets in Asia were stable last week, with prices in some parts drifting due to lackluster regional trade activity, according to Polymerupdate. General-purpose LDPE was priced at $980/tonne CFR in the Far East and Southeast Asian regions, with offers from South Korean producers steady at $1020/tonne. Buyer bids for LDPE from China were below $1000/tonne CFR, but sellers refused to conclude deals at those levels. In China, LDPE prices inched up by RMB 200/tonne with ex work offers heard at RMB 8500/tonne.

Linear low-density polyethylene (LLDPE) prices also finished steady last week, with buying from key markets like China and India, flat. CFR Far East and Southeast Asia prices of LLDPE were assessed at $980/tonne. LLDPE offers to South Asia from the Middle East were lower, with offers to India reported at $970 to $980/tonne. South Korean LLDPE producers kept their offers to India steady at $1000/tonne CFR and higher.

High-density polyethylene (HDPE) prices firmed in parts of Asia, as Chinese demand improved. CFR Far East Asian HDPE film finished last Friday at $950/tonne, with HDPE injection grades at $970/tonne CFR Far East Asia and Southeast Asian HDPE injection rates at $990/tonne CFR. Locally, Chinese HDPE prices rose, gaining between RMB 200 to RMB 300/tonne on the week. Higher ethylene feedstock prices coupled with reports of an unplanned outage at Shanghai Secco’s cracker helped fuel the climb in domestic HDPE rates.

Polypropylene (PP) prices edged higher, impacted by strength in upstream propylene and reports of limited regional product availability. CFR Far East Asia PP injection prices rose to $865/tonne, with CFR Southeast Asia prices reaching $880/tonne. CFR South Asia PP injection prices also rose, hitting $925/tonne. CFR Far East Asia film prices rose to $895/tonne, while CFR Southeast Asia film prices were seen at $910/tonne. CFR South Asia PP film prices were up, settling at $955/tonne.

A PP trader contacted by Polymerupdate said that even though demand for PP isn’t currently robust in Asia, limited propylene availability has prompted producers of PP to reduce rates, which has tightened availability and forced price gains. In India, the government has ordered an investigation into dumping of PP from Oman, Saudi Arabia, and Singapore.

Polystyrene (PS) climbed in Asia last week, riding higher on increases of more than $60/tonne for styrene monomer (SM). General-purpose prices rose to $900/tonne CFR China and $910/tonne CFR Southeast Asia. High-impact grades inched above $1000/tonne CFR, with CFR China prices at $1020/tonne and CFR Southeast Asia at $1030/tonne. [email protected]

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