Polymerupdate Asian resin pricing, May 4-8: PE steady, PP and PS down

Ethylene prices in Asia edged up last Friday, on increases in global crude and naphtha coupled with a sustained strength in downstream production, according to Polymerupdate. CFR Northeast Asia and CFR Southeast Asia prices finished at $680/tonne, prompted in part by a delayed restart at Qapco’s 725,000 tonnes/year steam cracker at Mesaieed.

Low-density polyethylene (LDPE) prices continued to hold firm across Asia, with spot availability tightening on the aforementioned production interruption at Qapco. Polymerupdate notes that Southeast Asian LDPE buyers were also actively seeking cargo ahead of PETLIN’s shutdown of its 255,000 tonnes/year PE plant at Kertih. General-purpose LDPE prices in the Far East were assessed at $1200/tonne CFR, while in Southeast Asia prices were assessed at the $1210/tonne CFR mark.

Propylene prices in Asia declined last week, with FOB Korea at $815/tonne and CFR Southeast Asia at $800/tonne. Despite strength in upstream crude and naphtha, propylene prices dipped as demand for downstream PP softened across the region. Last week, PP prices dropped $50/tonne from previous week, with injection and raffia prices falling to $1040 to $1050/tonne CFR Far East Asia. Propylene feedstock prices fell by about $30/tonne.

Polypropylene (PP) markets in Asia turned sluggish last week, with prices down across the region. CFR Far East Asia prices of raffia and injection grade PP dropped to $1060/tonne, while CFR South Asia prices hit $1110/tonne. PP film prices in the Far East were assessed down at $1145/tonne CFR, while CFR South Asia prices were assessed at $1210/tonne. In India, Reliance Industries will soon start up its new production facility in Gujarat with 900,000 tonnes/year of PP capacity.

Polystyrene (PS) prices in Asia were dragged sharply down this week despite a rebound in styrene monomer (SM) feedstock prices. CFR China prices of general-purpose PS fell to $930/tonne, while CFR Southeast Asia prices were assessed at $950/tonne. High-impact PS prices on a CFR China basis fell to $1040/tonne, with CFR Southeast Asia prices steady at $1070/tonne. [email protected]

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