Polyethylene (PE) prices in Asia edged lower, according to Polymerupdate, while ethylene prices were steady in Northeast Asia and rising in Southeast Asia. CFR Northeast Asia prices were assessed at $785/tonne, with CFR Southeast Asia prices of ethylene at $815/tonne. In Southeast Asia, higher Asian prices of naphtha and a need for cargo pushed ethylene offers up $10/tonne. In downstream PE markets, high-density film prices on a CFR Far East Asia basis were assessed at $1210/tonne, with low-density polyethylene (LDPE) prices dropping to $1160/tonne CFR. Linear low-density polyethylene (LLDPE) prices fell to $1110/tonne CFR Far East Asia.
High-density polyethylene (HDPE) prices ended last week in Asia down, with injection-grade CFR Far East Asia HDPE prices at $1140/tonne and HDPE film prices at $1205/tonne CFR Far East Asia. CFR Southeast Asia prices of HDPE injection and film dropped to $1150 and $1215/tonne, respectively. The drop in HDPE came in spite of gains in crude, naphtha, and ethylene, and was sparked by concerns of regional oversupply and weak demand, especially as the Dragon Boat Festival holidays on Thursday and Friday pulled many Chinese buyers from the market. In China, Sinopec reportedly slashed its ex-factory HDPE injection price by RMB 500 to RMB 9300/tonne. In India, Reliance Industries cut HDPE prices last week by Rs 5/kg basic. In plant news, Saudi Arabia’s Petro Rabigh is expected to see its first HDPE injection shipment arrive in Singapore.
Low-density polyethylene (LDPE) prices in Asia dropped, with CFR Far East and Southeast Asia general-purpose grades assessed at $1150-$1160/tonne. The $20/tonne drop in prices was fueled by extremely sluggish buying trends in China, the largest consumer of PE in Asia.
Polypropylene (PP) prices declined sharply in Asia, with domestic prices in China and India falling. PP injection and raffia grades were assessed at $1030/tonne CFR Far East Asia, with CFR Southeast Asia prices dropping to $1040-$1050/tonne. CFR South Asia prices of PP also fell to $1070/tonne.
Polyvinyl chloride (PVC) prices firmed in Asia last week, as sellers hiked offers in tandem with gains in upstream vinyl chloride monomer (VCM) and increases in petroleum. CFR China prices rose to $760-$770/tonne, while CFR Southeast Asia hit $770/tonne. In plant news, Shin-Etsu Chemical planned to shutdown its 550,000 tonnes/year Kashima PVC plant in June, with the maintenance turnaround expected to last 10 days.
Polystyrene (PS) prices slipped in Asia last week, as demand for general-purpose and high-impact resin remained subdued across the region and reports of ample inventories in China weighed down spot prices. CFR China and CFR Southeast Asia general-purpose prices dropped to $950-$960/tonne. High-impact prices were assessed at $1050-$1060/tonne on a CFR China and CFR Southeast Asia basis.
Acrylonitrile butadiene styrene (ABS) prices were lower in Asia, as demand for ABS remained dull across the region. CFR China ABS prices dropped to $1300/tonne with CFR Southeast Asia prices at $1310/tonne. By mid week, ABS sellers in China were actively liquidating their ABS positions, with ABS offers on Friday pegged between $1320-$1350/tonne. —[email protected]