Polymerupdate Asian resin pricing, Oct. 26-30: PP, HDPE, LDPE, LLDPE, PS, and PVC higher

Polypropylene (PP) prices bolted higher in Asia last week, according to Polymerupdate, rising in response to stronger upstream propylene and active buying interest across several key markets in Asia. PP injection and raffia prices hit $1135/tonne CFR Far East Asia and CFR Southeast Asia, with PP film at $1160 to $1165/tonne CFR Far East Asia, and PP block copolymer prices rising to $1230/tonne CFR Far East Asia. In plant news, a planned shutdown at Haldia Petrochemicals brought its 270,000-tonnes/yr PP plant offline for two months starting on Oct. 30. PP capacity at the plant will be boosted to 345,000 tonnes/yr.

High-density polyethylene (HDPE) prices in Asia climbed last week despite softer ethylene rates, lifting on improved demand and reports of low inventories among buyers and sellers. HDPE yarn rose to $1235/tonne CFR Far East Asia and CFR Southeast Asia, with HDPE injection at $1205/tonne CFR Far East Asia. HDPE film prices were at $1230/tonne CFR Far East Asia. HDPE offers last Friday were seen edging up in many parts of Asia, as buying in China showed signs of slowing and market participants responded by slashing their bid targets for prompt HDPE cargoes. Sellers, however, kept their price offers firm, insisting the bullish run must continue since pricing fundamentals were sill strong and avails of prompt parcels were not ample. In plant news, Thailand’s PTT Chemical announced it will shut down one of its two HDPE plants in November, ceasing production at its 250,000-tonnes/yr facility for 45 days starting Nov. 3.

Low-density polyethylene (LDPE) prices bolted higher in Asia last week, as regional availability tightened. CFR Far East Asia LDPE prices rose to $1275/tonne, while CFR Southeast Asia prices hit $1280/tonne. LDPE offers moved higher to $1300 to $1320/tonne CFR. Following a price dip in ethylene, several LDPE buyers did put forward bids at lower levels, but sellers brushed them off and responded with future price hikes. In China, LDPE prices were at RMB 11350/tonne ex-works amidst early signs of waning buyer interest and diminished need-based purchase inquiries following post-National holiday inventory replenishment. In plant news, markets are awaiting the start up of PTT Chemical’s new 300,000-tonnes/yr LDPE plant in mid November.

Linear low-density polyethylene (LLDPE) prices climbed in Asia last week. Despite softer ethylene, sellers successfully increased their rates, as CFR Far East Asia prices reached $1235/tonne, while CFR Southeast Asia and South Asia prices topped out at $1245 and $1265/tonne, respectively. A trader contacted by Polymerupdate noted that tight regional availability of LLDPE is allowing sellers to command a premium for prompt cargoes, with supply to be further impacted by impending turnarounds at Haldia Petrochemicals in India and Daelim Corp. in South Korea. Domestic prices of LLDPE in China are at RMB 10,750 to RMB 10,800/tonne ex works.

Polystyrene (PS) prices edged higher in Asia last week, lifted by improved buying trends. General-purpose (GPPS) prices rose to $1150/tonne CFR China, with CFR Southeast Asia at $1170/tonne. High-impact (HIPS) prices were assessed at $1220/tonne CFR China, while CFR Southeast Asia prices hit $1240/tonne mark, with demand for HIPS seen as dull.

Polyvinyl chloride (PVC) purchasing was active in many parts of Asia, with deals in India reportedly completed at $900 to $910/tonne CIF Nhava Sheva. These rates represent a boost of $20 to $30/tonne. Indian resin makers responded by hiking domestic prices, effective Oct. 29. November PVC offers to China were heard at $880/tonne CFR, with bids ranging from $830 to $840/tonne. —[email protected]