This all is according to the plastics pricing service ChemOrbis (Istanbul, Turkey) via its agents in China and Southeast Asia. The ethylene oversupply and already limited demand for polyethylene (PE) in Asia could keep PE prices down for some weeks, reckons ChemOrbis after talks with market participants, some of whom just last week were predicting that the drop in PE prices was coming to an end as the market.
In China's PE market, offers for imported low-density PE film grade material has fallen by $30-40/ton on a CFR China basis, reports ChemOrbis, while offers from bonded warehouses retreated by $10-50/ton on FCA China basis. In the market for high-density PE film grades, import offers fell by $20/ton at the low end of the range while prices from the bonded warehouses remained stable on a week-to-week comparison. Prices for dutiable imported linear low-density PE film grades were stable over the last week but non-dutiable LLDPE film grade prices dropped slightly, about $10/ton at the low end.
In Southeast Asia, PE prices continue to remain below the levels reported at the beginning of the month. Most buyers are waiting for further decreases, according to ChemOrbis.