is part of the Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Price of (pick your plastic) tumbled last week in Asia

That headline could be the very brief executive summary of this week's report for us on plastics market in Asia from pricing information service Polymerupdate. The various types of polyethylene, polypropylene, polystyrene, ABS, PVC-prices dropped for all of them last week. The drops are little wonder as the uncertainty in the stock market spreads to the "real" world and begins to curb consumer demand.

According to Polymerupdate, HDPE prices fell-tumbled, in fact- last week in Asia as a decline in prices of naphtha, a fall in ethylene feedstock rates and a drop in regional buying interest all contributed toward the price fall. HDPE injection molding and HDPE film grade prices were down at $1395/tonne CFR Far East Asia levels. CFR South East Asia prices of HDPE injection and HDPE film grades were at $1405/tonne levels. In India, the last deals for HMHDPE film were heard done at $1480/tonne to $1490/tonne CFR levels, according to Polymerupdate.

In China, local prices of HD film grade material were at Yuan 11700/tonne ex works levels last week. Sellers polled by the pricing service confirmed that buying pulse in China had weakened considerably and that uncertainties surrounding the health of the U.S. and European economies added to the bearish market undercurrent.

LDPE prices fell as well, as did those for LLDPE. General-purpose LDPE prices were down to $1570/tonne CFR Far East Asia levels while CFR South East Asia prices were at $1600/tonne levels. In India, no fresh offers were heard last week with reports of business at $1690/tonne - $1700/tonne CFR levels.

In China, where the buying pulse was muted, ex works prices of LDPE last week were at Yuan 13400/tonne levels. CFR Far East Asia prices of LLDPE plunged to $1350/tonne levels while CFR South East Asia prices of LLDPE were down at $1370/tonne levels. The price drop of more than $50/tonne on the week failed to help trigger any fresh buying interest ahead of the weekend start, so Polymerupdate. In India, the last deals were heard done at the $1440/tonne CFR mark. In China, local prices of LLDPE were at Yuan 11100/tonne ex works.

Polypropylene (PP) prices declined in Asia too last week. PP injection and PP raffia grade prices were down at $1540/tonne CFR Far East Asia while PP film grade prices were down at $1555/tonne CFR Far East Asia levels. Block copolymer prices were down at $1550/tonne CFR Far East Asia levels. CFR South East Asia prices of PP injection and PP raffia grades were down at $1555/tonne levels while PP film prices were down at $1570/tonne levels. In China local prices of PP injection and PP raffia were at Yuan 12700/tonne ex works.

Polystyrene (PS) prices drifted sharply lower in the region last week, according to Polymerupdate, with GPPS prices down at the $1600/tonne CFR China mark while CFR South East Asia prices were down at $1620tonne levels. Offers were heard at $1650/tonne CFR levels with bids pegged at below the $1600/tonne mark. HIPS prices meanwhile were at $1830/tonne CFR China while CFR South East Asia prices were down at $1850/tonne levels. Offers were at above the $1900/tonne CFR mark, however buying interest was at levels no higher than $1820/tonne - $1830/tonne CFR levels.

ABS prices also were said to fall sharply in Asia last week. Sellers of ABS confirmed that buying mood also slowed considerably this week, particularly in China. ABS injection molding prices were at $2240/tonne CFR China levels while CFR South East Asia prices were down at $2260/tonne levels. In China, prices of ABS fell Yuan 500/tonne week-on-week to Yuan 18600/tonne levels.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish