PP, PE, PS, PVC up; ABS flat; Polymerupdate Asian resin prices, Feb. 27-March 2

Polypropylene (PP) prices firmed in Asia last week, on the back of bullish crude and naphtha values coupled with week-on-week gains in propylene, according to Polymerupdate. The startup of cracker turnaround season across Asia is expected to trigger a climb in regional prices of olefins while tightening spot availability. PP raffia and injection molding prices rose to $1390/tonne CFR Far East Asia, a week-on-week rise of $20/tonne. CFR South East Asia prices were assessed up at $1410/tonne, while CFR South Asia prices were assessed up at $1440/tonne CFR. In India, petrochemical major Reliance Industries announced a Rs 2/kg basic hike in its prices of PP, effective from March 1.

Polyethylene (PE) was on the move in Asia, with high-density PE film prices edging higher. Prices climbed in tandem with a rise in crude and naphtha and with strength in ethylene. HDPE film prices on March 1 rose to $1385/tonne CFR Far East Asia. In South East Asia, prices were assessed at $1420/tonne CFR. In India, Reliance Industries (RIL) announced a price increase of Rs 2/kg basic with effect from March 1, 2012. An HD film buyer in China contacted by Polymerupdate producer offers range between $1450 and $1500/tonne CFR.

Low-density polyethylene (LDPE) prices rose in the Far East on strength in crude, naphtha and ethylene. CFR Far East Asia LDPE prices rose to $1365/tonne. In South East Asia, prices were assessed at $1385/tonne CFR. Reliance Industries revised its prices of general purpose LDPE higher by Re 1/kg basic in India, with effect from March 1. LDPE lamination grades increased by Rs 2/kg basic. Sellers polled reported that LDPE spot-buying trends weren't robust as cheaper cargoes from Iran prevented a sharper rise in prices.

Linear low-density polyethylene (LLDPE) prices marched higher in the Far East, prompted by strength in upstream naphtha and ethylene, as well as reports of tight product availability in parts of Asia. CFR Far East Asia LLDPE prices rose from $1295 to $1305/tonne. In South East Asia, prices were assessed at $1330/tonne CFR, while in South Asia, prices fell to $1430/tonne CFR.

Polyvinyl chloride (PVC) prices edged up in parts of Asia last week, boosted by strong demand and bullish crude and naphtha rates. Strong prices of ethylene also helped support the price rise. CFR South East Asia PVC prices were assessed up at $1020/tonne mark with demand heard firm in Vietnam. CFR India prices were assessed up at $1050/tonne. In China where PVC demand was soft, prices were unchanged at $1010/tonne CFR. Local ethylene-based PVC prices were down at Yuan 6800/tonne mark while coal-based PVC was at Yuan 6600/tonne.

Polystyrene (PS) prices edged up in Asia last week, impacted by firmer feedstock styrene monomer (SM) values. PS sellers confirmed that demand currently was not robust, however they hoped to see an improvement in buying activity in March. General-purpose PS prices were assessed up at $1570/tonne CFR China, with offers rising to $1600/tonne CFR China mark and moving higher. CFR South East Asia GPPS prices were assessed up at $1580/tonne. High-impact PS rose to $1775 to $1780/tonne CFR China, while CFR South East Asia prices were assessed up at $1785 to $1790/tonne. EPS prices raced higher and were assessed up $50/tonne on the week at $1620/tonne FOB North East Asia for general-purpose grades. Offers were heard at $1650/tonne FOB.

Acrylonitrile butadiene styrene (ABS) prices finished flat in Asia. Despite gains in ACN and SM feedstocks coupled with high energy values, prices were unchanged with dull regional buying interest. Butadiene prices last week recorded a fall. While CFR China ABS prices were assessed at $2150 to $2160/tonne, offers remained flat at $2200/tonne CFR. CFR South East Asia prices of ABS were assessed at $2170/tonne.