Across Asia, plastic prices trend lower

Polypropylene (PP) prices drifter lower in Asia this past week, reported Polymerupdate, with lackluster regional buying the primary reason. PP injection and PP raffia grade prices were at $1520/tonne CFR Far East Asia levels while PP film grade prices were at $1530/tonne levels. Block copolymer prices were at $1550/tonne CFR Far East levels. In South East Asia, prices of PP injection and PP raffia were at $1530/tonne levels while PP film prices were at $1540/tonne levels.

In India, suppliers from the Middle East offered their PP injection and PP raffia grades at $1560/tonne CFR levels while PP film offers were at $1580/tonne CFR levels.

Buyer sentiments also were sluggish the past week in Asia's HDPE markets. The price fall was mainly on account of weak regional buying sentiment coupled with a decline in feedstock ethylene prices. HDPE injection molding prices were at $1365/tonne CFR Far East Asia levels while HDPE film grade prices were at $1365/tonne levels. HDPE blowmolding prices were at $1370/tonne CFR Far East Asia levels. In South East Asia, HDPE injection molding and HD film prices were at $1375/tonne CFR levels while HD blowmolding prices were at $1380/tonne levels.

HDPE film offers to India were at $1400/tonne CFR levels from Thai supplier PTTPM while Equate offered its HD film grade material at $1420/tonne CFR levels. In China's HDPE markets domestic prices of HD film material were down at the Yuan 11400/tonne ex works mark.

LDPE prices slipped this week in Asia too. CFR Far East Asia prices of general purpose LDPE were at $1520/tonne levels while CFR South East Asia prices were at $1540/tonne levels. In China, where buying sentiments were bearish, domestic prices were at the Yuan 12800/tonne ex works level this week, according to Polymerupdate. Offers to China from sellers in Brazil were at $1520/tonne CFR for October cargoes. But given the long shipping time involved, buying interest at these price was limited.

LDPE film offers to India were at $1600/tonne from sellers in Taiwan. Offers for LDPE lamination grade from supplier Hanwha (South Korea) were at $1800/tonne CFR India.

LLDPE saw a price fall as well. CFR Far East Asia prices of LLDPE were at $1310/tonne while CFR South East Asia prices were at $1325/tonne levels. In China, the buying pulse in the LLDPE markets was weak. Local ex works prices were at Yuan 10500/tonne levels with sellers confirming that purchase interest at these price levels was absent. CFR South Asia prices of LLDPE were at $1360/tonne levels. Offers to India were at $1400/tonne CFR from Equate and from PTTPM.

Polymerupdate's research and talks indicate that PVC prices were hammered across Asia this past week. Prices fell on the back of subdued regional buying trends coupled with a drop in upstream VCM prices. CFR China prices of suspension grade PVC were at $1060/tonne with buying interest heard at below the $1040/tonne mark. PVC offers from the U.S. were at $1020/tonne - $1040/tonne CFR levels, but the delivery time turned off buyers despite the offers being competitively priced. Offers to China from PVC sellers in Asia were heard at $1070/tonne CFR.

In China, prices of PVC dipped this week to Yuan 8000/tonne. CFR India prices were at $1075/tonne. Local buying trends were subdued and domestic producers of PVC lowered their local prices by Rs 3/kg basic this week. Offers to India from CGPC Taiwan were at $1100/tonne CFR levels while Germany's Ineos offered its PVC to Indian buyers at $1060/tonne CFR levels.

Prices of general-purpose polystyrene (GPPS) slipped in Asia this week too. CFR China prices of GPPS were at $1590/tonne levels. Offers to China were pegged at $1600/tonne - $1620/tonne CFR. CFR South East Asia prices of GPPS were at $1610/tonne levels.

High-impact PS was the lone material that Polymerupdate saw climbing in price during the past week. The rise came despite bearish feedstock costs and was attributed mainly to a lift in buying sentiments in China. CFR China prices of HIPS were up at $1825/tonne levels with offers up at between the $1850/tonne - $1860/tonne CFR levels. CFR South East Asian prices of HIPS were up at $1845/tonne levels.

Acrylonitrile-butadiene-styrene (ABS) prices fell with the price drop triggered by falling upstream product costs including those of ACN, butadiene and SM. CFR China prices of ABS injection molding grade material were at $2165/tonne levels, a week-on-week slide of $30/tonne. CFR South East Asia prices of ABS meanwhile were at $2185/tonne levels.

China's Tianjin restarted its 200,000-tonne/annum ABS plant recently but the weak demand from buyers meant the plant is running at low operating rates. The plant had been shut in July to carry out some pipeline work.