High Density Polyethylene (HDPE) CFR South Asia Price Forecast

Note:

Polymer prices have recently witnessed a surge making some of the polymer forecasting values move out of the actual price range. Some of the polymer prices on February 17, 2021 witnessed an unprecedented week on week spike of USD 180/mt.

Tight container availability and a substantial rise in freight costs, have forced sellers to sharply raise polymer prices in the Asian region. Prices were already pushed higher by bullish upstream oil markets and stronger naphtha and feedstocks values.

Moreover, sub-zero temperatures across the US Gulf Coast forced several petrochemical producers to declare force majeure on some products. Hence, export PP volumes from the USA have been largely unavailable for several months amid tight supply, and the force majeures are expected to elevate prices further.

As a result, producers and traders are offering the material at sharply higher rates on account of an acute shortage of material, both due to higher freight rates and non-availability of material owing to planned and unplanned plant shutdowns.

Disclaimer:

The Polymer Price Forecasting tool has been created for information purposes only, as a possible forward view of future polymer prices. The pricing forecasts presented are based on data obtained from our in-house Polymerupdate Data Analytics Cell, by diluting all the proprietary data the company has assiduously gathered over the past 20 years of being in the business of market intelligence.

Polymer prices have historically been subject to significant crude oil price volatility and geopolitical uncertainty. The forecasts generated by Polymerupdate are based on an informed interpretation of the available data with the use of Machine Learning and Artificial Intelligence algorithms and while these forecasts are considered reasonable, as of the date of the pricing schedule, there is a high degree of uncertainty associated with any commodity forecasting and users of this information should recognize that future revisions to the forecasts could be significant based on market fluctuations. There will usually be differences between forecasted prices and actual price results because events and circumstances frequently do not occur as expected.

While every effort has been made to ensure the accuracy in forecasting of polymer prices, no representation or warranty of any kind (whether expressed or implied) is given by Polymerupdate to the accuracy of the forecasted price. Polymerupdate accepts no liability of any kind and disclaims all responsibility for the consequences of any person acting or refraining from acting in reliance on this price forecast in whole or in part.