Polymerupdate Asian resin prices, Dec. 19-23: PE, PP lower; Styrenics rise

Polypropylene (PP) prices in Asia last week were hammered lower, dropping due to muted regional buying, plentiful availability and softer feedstock costs, according to Polymerupdate. CFR Far East Asia prices of PP injection and raffia fell to $1255/tonne, a steep tumble of more than $60/tonne on the week. In South East Asia, prices of PP injection and PP raffia were assessed down at $1260/tonne CFR while CFR South Asia prices were assessed down at $1330/tonne. Block copolymer prices were assessed at the $1340/tonne CFR China mark, while the Chinese domestic ex works prices of PP injection and raffia were at the Yuan 10,100/tonne levels.

High-density polyethylene (HDPE) prices in Asia also declined last week, falling on regional buying trends, as well as a sluggish buying mood in China, where converters polled by Polymerupdate voiced disinterest in purchasing ahead of the Chinese lunar holidays which begin on January 22. HDPE film prices were assessed down mid week at $1270 to $1280/tonne CFR Far East Asia, a week on week drop of $30/tonne. CFR South East Asia prices dropped to $1290/tonne CFR. HDPE film offers from Iran were at the $1250/tonne CFR China mark, with other Middle Eastern sellers pricing their HDPE film at $1270 to $1280/tonne CFR. In China meanwhile, Sinopec has slashed its HDPE prices with revised rates at the Yuan 10,900/tonne levels.

Low-density polyethylene (LDPE) prices also tumbled in Asia last week, triggered by quiet regional buying trends ahead of the start of the Christmas holidays and anticipated weakness in Chinese demand before the lunar New Year break, due to begin on January 22. Ample supply in the region compounded by plentiful deep sea availability also supported the price fall in LDPE. CFR Far East Asia LDPE prices dropped to $1265 to $1270/tonne, while CFR South East Asia prices fell to $1290/tonne.

Linear low-density polyethylene (LLDPE) prices fell in Asia, also prompted by sluggish regional buying trends ahead of the the Christmas and Chinese New Year holidays. In the Far East, LLDPE prices last Thursday were assessed at $1155/tonne CFR, while CFR South East Asia prices registered $1165/tonne.

Polyvinyl chloride (PVC) prices in some parts of Asia firmed last week, with South East Asia rising to $960/tonne. In China prices were flat last week, staying at $950/tonne CFR.

Polystyrene (PS) prices moved higher last week in Asia, with price gains coming on the back of firmer styrene monomer (SM) feedstock rates coupled with gains in global energy prices. General-purpose PS prices rose to $1455/tonne CFR China mark with prices in South East Asia stable at $1460/tonne CFR. Offers for GPPS in South East Asia were heard at the $1480 to $1490/tonne CFR mark. High-impact PS prices meanwhile rose to $1635/tonne CFR China levels, with offers heard higher the $1660 to $1700/tonne CFR. CFR South East Asia prices were assessed at $1650/tonne.

Acrylonitrile butadiene styrene (ABS) prices moved higher last week, rising on the back of steady ACN rates and firmer feedstock SM coupled with steep gains in upstream butadiene. Last Wednesday, CFR China ABS prices were assessed up at $1880/tonne with offers higher at above the $1900 to $1920/tonne CFR mark. In South East Asia, CFR ABS prices