Polymerupdate Asian resin pricing, Sept. 28-Oct. 2: HDPE, LDPE, LLDPE, PP, PVC, PS, and ABS all down

High-density polyethylene (HDPE) injection prices dropped to $1085/tonne CFR Far East Asia, while CFR Southeast Asia and CFR South Asia prices were assessed at $1095/tonne and $1100/tonne, respectively, according to Polymerupdate. HDPE film prices dropped to $1130/tonne CFR Far East Asia, with CFR Southeast Asia and South Asia prices falling to $1135/tonne and $1155/tonne, respectively. Despite the steep price fall, HDPE sellers were unable to generate satisfactory sales. In China, just ahead of the Oct. 1 National Day holiday start, several competitively priced HDPE offers emerged, as sellers rushed to clear inventories before the holidays.
 
Low-density polyethylene (LDPE) prices witnessed a steep fall last week in Asia, with demand at a standstill and ethylene feedstock dropping. Ethylene was down more than $100/tonne last week, while CFR Far East Asia LDPE settled last Friday at $1185/tonne. CFR Southeast Asia prices were at $1200/tonne with very little buying interest generated. Chinese holidays impacted regional buying and kept the downward pressure on LDPE firm.

Linear low-density polyethylene (LLDPE) prices were down in Asia, as prices declined on the back of bearish regional buying trends and a tumble in ethylene. CFR Far East Asia LLDPE fell to $1150/tonne, with CFR Southeast Asia prices at $1180/tonne and CFR South Asia at $1145/tonne. The price drop failed to improve buying in the region, with sellers who pegged offers at $1175/tonne CFR Southeast Asia ignored. Reports of several deep-sea LLDPE offers that are priced well below regional product dragged the market lower.

Polypropylene (PP) was described by Polymerupdate as being at a “complete standstill” through the latter half of last week, as prices fell on softer propylene and a lack of buyers, especially in China, where National Holidays began last Thursday. PP raffia and injection offers fell to $1055/tonne CFR Far East Asia, with CFR Southeast Asia and South Asia prices at $1085/tonne and $1090/tonne, respectively. PP film fell to $1060/tonne CFR Far East Asia, while CFR Southeast Asia hit $1090/tonne. Block copolymer prices were assessed at $1160/tonne CFR Far East Asia and $1140/tonne CFR South Asia. A PP converter contacted by Polymerupdate noted that despite low prices from producers and dwindling inventories at processors, it believes PP prices may continue to fall since “regional avails are ample and the near-term outlook is still very bearish.”

Polyvinyl chloride (PVC) prices ended down in Asia last week, falling on a steep drop in upstream ethylene dichloride (EDC), vinyl chlorine monomer (VCM), and extremely sluggish regional buying. CFR China prices dropped to $870/tonne with bids just before the Oct. 1 start of National Day holidays slipping below $850/tonne CFR. CFR Southeast Asia prices dropped to $870 to $880/tonne, but an abundance of deep-sea offers below these rates kept them from moving. In particular, Latin American offers to India were down to $850/tonne CIF last week. Indian buyers, however, did not rush to book material despite the low prices since the sailing time from South America would be too long and purchasing resin at this time, even at $850/tonne, would be a risk.

Polystyrene (PS) prices nosedived in Asia last week, impacted largely by last Thursday’s start of the week-long National Day holiday in China. On Friday, general-purpose (GPPS) prices fell to $1100/tonne CFR China and CFR Southeast Asia. High-impact (HIPS), meanwhile, hit $1170/tonne. An Indian PS buyer stated his belief that in the current month, GPPS will slide below $1050/tonne CFR India, with HIPS dipping under $1100/tonne CFR India.

Acrylonitrile butadiene styrene (ABS) rates dragged lower in Asia on a fall in upstream acrylonitrile (ACN), butadiene, and SM coupled with muted buying interest across Asia. Prices fell sharply to $1400 to $1410/tonne CFR China and CFR Southeast Asia. Despite a price drop of more than $100/tonne this past fortnight, most actual users of ABS when contacted told Polymerupdate they were prepared to see prices continue to tumble. In China last week, ABS prices fell RMB 200/tonne with offers just before the holidays dropping to RMB 12,000/tonne. —[email protected]