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High density polyethylene (HDPE) prices quote stable in Asia

10 Jul 2024 14:00 IST
This week, HDPE prices were left unchanged in the Asian region.

An industry source in Asia informed a Polymerupdate team member, “Hurricane Beryl, which downgraded to a tropical storm, exerted minimal impact on crude oil production facilities in the U.S. Gulf region. Meanwhile, rising prospects of a ceasefire deal between Israel and Palestinian militant group Hamas with the likely resumption of talks between both the warring sides alleviated oil supply disruption concerns, sending prices lower.”

In Far East Asia, HDPE film prices were assessed at the USD 980-1010/mt CFR levels, steady from the previous week. HDPE blow moulding prices were assessed flat at the USD 930-970/mt CFR levels. HDPE injection prices were assessed at the USD 920-940/mt CFR levels and HDPE yarn prices were assessed at the USD 990-1000/mt CFR levels, both unchanged week on week.



In China, producers held their July offers firm in the import market even as domestic traders held back from transacting at higher prices in the midst of a weak demand season. Rising PE prices in other markets in Asia coupled with freight hikes drove Middle Eastern producers to shore up their offers to China.

In Southeast Asia, HDPE yarn prices were assessed at the USD 1040-1070/mt CFR levels, steady from last week. HDPE film prices were assessed at the USD 1000-1040/mt CFR levels and HDPE BM prices were assessed at the USD 1000-1030/mt CFR levels, both rolled over week on week. HDPE injection prices were also assessed stable at the USD 990-1030/mt CFR levels.



PE prices held stable in Southeast Asia with spot negotiations slowing down in the start of the month. Buyers were anticipating a decline in PE prices in July with a recovery in supply levels. Meanwhile, high feedstock rates and freight spikes may prompt producers to maintain stability in their offers in the short term.

In India, HDPE Film prices were assessed at the USD 1020-1060/mt CFR levels while HDPE BM prices were assessed at the USD 1020-1050/mt CFR levels, both rolled over week on week. HDPE Injection prices were assessed at the USD 1000-1050/mt CFR levels while HDPE yarn prices were assessed at the USD 1010-1040/mt CFR levels, both stable from the previous week.



In India, buyers were making need-based purchases while import offers from overseas suppliers were limited. Regional shipping traffic continues to experience hindrances, with offers from South Korea and Southeast Asia deemed high-priced for Indian buyers, a fact which has pushed a few producers to leave out offers for this month completely.

In Pakistan, HDPE yarn grade prices were assessed at the 1040-1060/mt CFR levels while HDPE injection grade prices were assessed at the USD 1030-1050/mt CFR levels, both steady week on week. HDPE BM grade prices were assessed flat at the USD 1040-1070/mt CFR levels while HDPE film prices were also assessed stable at the USD 1040-1070/mt CFR levels

In Sri Lanka, HDPE film prices were assessed at the USD 1090-1120/mt CFR levels and HDPE BM prices were assessed at the USD 1090-1120/mt CFR levels, both steady from the previous week. HDPE injection grade prices were assessed steady at the USD 1070-1090/mt CFR levels while HDPE yarn grade prices were also assessed flat at the USD 1080-1100/mt CFR levels.

In Bangladesh, HDPE BM prices were assessed steady at the USD 1060-1080/mt CFR levels and HDPE film prices were assessed stable at the USD 1060-1080/mt CFR levels. HDPE Injection grade prices were assessed at the USD 1050-1070/mt CFR levels while HDPE yarn prices were assessed at the USD 1050-1070/mt CFR levels, both unchanged from the previous week.

In South Asia, buyers have been experiencing late arrivals of import shipments from the Middle East which could be attributed to vessel congestions at key transhipment ports in Europe And Africa. This could be resulting in exerting a domino effect on cargo arrivals in South Asia, with some buyers witnessing extended transit schedules for cargo arrivals.

In feedstock news, CFR North East Asia feedstock ethylene prices were assessed at the USD 850-860/mt levels, while CFR South East Asia ethylene prices were assessed at the USD 925-935/mt levels, both steady week on week.

In plant news, Sinopec-SK Wuhan Petrochemical has shut down its No.2 High density polyethylene (HDPE) unit in early July 2024. Further details on the duration of the shutdown could not be ascertained. Located in Wuhan, Hubei in China, the No.2 HDPE unit has a production capacity of 300,000 mt/year.

In other plant news, PetroChina Lanzhou PC has restarted its High density polyethylene (HDPE) unit in early July 2024. The unit was shut for maintenance on May 30, 2024. Located in Yulin, China, the HDPE unit has a production capacity of 400,000 mt/year.