Polypropylene (PP) prices adjusted downwards in Asia last week, slipping as the buying momentum in key markets like China was not as robust as had been anticipated, according to Polymerupdate. Also supporting the price slip was a steep drop in propylene values, which dropped to $1360/tonne FOB Korea on Thursday. PP injection and raffia prices dropped to $1380/tonne CFR Far East Asia, down $20/tonne on the week. In India, deals for February were last heard sealed at $1410/tonne for PP raffia and injection CIF Nhava Sheva for Saudi origin material while PP film was heard sold at $1430/tonne CIF Nhava Sheva. Fresh offers for March were awaited.

High-density polyethylene (HDPE) prices slipped in parts of Asia while inching higher elsewhere. Sluggish buying trends pushed prices lower in the Far East while high crude, naphtha and ethylene feedstock values as well as firm buying sentiments helped lift prices in the South Asian markets. CFR Far East Asia prices of HDPE film were assessed at $1360/tonne, while in South Asia, film prices were assessed at $1370/tonne CFR. Deals to India from SABIC were sealed at $1370/tonne CIF Nhava Sheva for HD film while HD blowmolding grade was sold at $1390/tonne CIF Nhava Sheva for February shipment. Fresh offers were awaited. On Thursday, ethylene prices were assessed up at $1260/tonne CFR North East Asia. CFR South East Asia prices were assessed at $1255/tonne, a steep day-on-day climb of more than $10/tonne.

Low-density polyethylene (LDPE) prices marched higher last week in Asia. Bullish global crude values, stronger naphtha rates and gains recorded in ethylene prices overshadowed a buying weakness that had gripped parts of the region and helped support a marginal price climb. On Thursday, ethylene prices were assessed up at $1260/tonne CFR North East Asia. CFR South East Asia prices were assessed at $1255/tonne, a steep day-on-day climb of more than $10/tonne. CFR Far East Asia prices of LDPE were assessed at $1360/tonne, with offers up above $1380/tonne, while CFR South East Asia prices were assessed at $1390/tonne. Offers in South East Asia were heard at above the $1400/tonne CFR. In India, offers for LDPE film from PTT, Thailand were at $1420/tonne CIF Nhava Sheva for March shipment.

Linear low-density polyethylene (LLDPE) prices were mixed in Asia last week, with buying sentiments subdued in some parts, thereby pushing spot rates lower. In other parts of the region, active buying supported seller efforts to drive their prices higher. Supporting the firmer prices was strength in global crude and naphtha rates and gains recorded this week in feedstock ethylene. On Thursday, ethylene prices rose to $1260/tonne CFR North East Asia. CFR South East Asia prices were assessed at $1255/tonne, a steep day-on-day climb of more than $10/tonne. CFR Far East Asia prices of LLDPE meanwhile were assessed down at $1250 to $1255/tonne. In South East Asia, prices were assessed at $1280 to $1290/tonne CFR, while LLDPE offers in South Asia were heard at above $1360/tonne CFR. A local source in India informed Polymerupdate that SABIC had last offered LLDPE film at $1330/tonne CIF Nhava Sheva. At this price, deals for February shipment were heard sealed. In China, domestic prices of LLDPE were at Yuan 9800/tonne.

Polyvinyl chloride (PVC) prices rose in Asia last week, climbing on the back of strength in crude, naphtha and ethylene feedstock values. Firm VCM prices also supported the price increase. CFR South East Asia prices of suspension-grade PVC were assessed at $1010/tonne. CFR China prices edged higher and were assessed up at $1010/tonne. In China, local prices were at Yuan 6900/tonne for ethylene based PVC while carbide based PVC offers were at Yuan 6700/tonne. In India, deals were last heard at $1010/tonne for Taiwanese origin product for March shipment. Indicative offers for PVC for March from South Korea's LG Chem were at $1040/tonne CIF Nhava Sheva.

High-impact polystyrene (HIPS) prices firmed up in Asia, with general-purpose PS assessed stable. The week in Asia saw prices of GPPS end flat while HIPS prices firmed on the back of stronger feedstock SM and butadiene values. Supporting gains in HIPS were bullish global energy rates, higher prices of naphtha and stronger ethylene prices. GPPS prices were assessed steady at $1550/tonne CFR China. Offers were heard at $1580/tonne CFR and higher. CFR South East Asia prices of GPPS were assessed at $1560/tonne  with offers heard above $1600/tonne CFR. Citing strength in upstream SM values, which on Thursday were assessed up at $1450/tonne CFR China and $1440/tonne FOB Korea, GPPS sellers did revise their offers higher, but buyers were seen resisting the increase. HIPS prices meanwhile were assessed up at $1760/tonne CFR China while CFR South East Asia prices were assessed up at $1770/tonne. Offers to China were at $1800/tonne and higher.

Acrylonitrile butadiene styrene (ABS) prices in Asia also marched higher this week in Asia. A steady increase in upstream ACN and butadiene prices overshadowed the week-on-week slide in feedstock SM values and supported gains in spot ABS prices. CFR China prices were assessed up at $2095 to $2100/tonne. For March, ABS offers to China were pegged at between $2150 to $2200/tonne CFR. CFR South East Asia prices of ABS meanwhile were assessed up at $2100/tonne.