Polymerupdate Asian resin pricing, June 29-July 3: PE, PP, PVC, and PS on the rise

Low-density polyethylene (LDPE) prices shot higher in Asia last week, according to Polymerupdate, with CFR Far East Asia prices at $1245/tonne for general-purpose grades and CFR Southeast Asia prices at $1255/tonne. Limited spot availability and rising naphtha and ethylene helped feed the pricing strength. An LDPE trader contacted by Polymerupdate said that deep-sea parcels originating from the U.S. have sold into China below $1200/tonne CFR and helped keep Asian LDPE sellers from pushing through greater increases. In plant news, Malaysian LDPE maker PETLIN kept its 255,000-tonnes/yr line shut down.

High-density polyethylene (HDPE) prices firmed amidst rising ethylene, with HDPE CFR Far East Asia film prices at $1280/tonne and CFR Southeast Asia and South Asia HDPE film at $1285/tonne. HDPE blowmolding was reported at $1200/tonne CFR Far East Asia and $1205/tonne CFR Southeast Asia. In plant news, Iran’s Mehr Petrochemical is planning to begin commercial output at its 300,000 tonnes/yr Assaluyeh plant. Fujian Refining and Petrochemical has delayed commercial startup at its 400,000 tonnes/yr HDPE plant in Qanzhou from July to August.

Polypropylene (PP) prices rose in Asia following increases in propylene, crude, and naphtha. The gains were supported by the closing of Europe’s arbitrage window and increases in U.S. prices. PP raffia and injection prices were assessed at $1125 to $1130/tonne CFR Far East Asia, with CFR Southeast Asia prices at $1135 to $1140/tonne. CFR South Asia PP injection and raffia prices ranged from $1140 to $1150/tonne, with PP film at $1210/tonne CFR Far East Asia and CFR Southeast Asia and $1220/tonne CFR South Asia. In India, the Ministry Of Commerce imposed provisional anti-dumping duties on PP imports from select producers in Singapore, Oman, and Saudi Arabia, with Polymerupdate reporting the size of the duties left many PP importers “surprised and shocked.”

Polyvinyl chloride (PVC) prices edged higher in Asia on strength in upstream ethylene, ethylene dichloride (EDC), and vinyl chloride monomer (VCM). Producers across Asian are looking to implement further increases in the face of good demand. A PVC producer contacted by Polymerupdate said his company planned to increase PVC offer rates by $50/tonne, pushing offers to China above $950/tonne CFR. In the U.S., Georgia Gulf lifted its August PVC price by $0.05 cents/lb while in Europe, Turkish producer Petkim sent July PVC prices $100 to $120/tonne higher.

Polystyrene (PS) prices rebounded in Asia last week on gains in ethylene and benzene, with CFR China general-purpose PS prices rising to $1160/tonne, with CFR Southeast Asia prices at $1170/tonne. High-impact PS prices quoted firm in Asia, with CFR China prices at $1210/tonne and CFR Southeast Asia at $1230/tonne.
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