Asian plastics prices close August on down note
Plastics prices finished down last month across much of Asia, with the trend affecting a broad swath of the market. Lower oil prices pulled
down the cost for some plastic feedstock materials’ prices, and demand was soft as well as buyers across the region remain concerned about softness in the U.S. economy.
This is all according to plastics pricing service Polymerupdate, which offered its review to PlasticsToday. According to Polymerupdate, prices of PP homopolymer grades this week declined in Asia. A drop in feedstock propylene prices coupled with softening demand trends weighed bearishly on spot PP prices. PP injection and PP raffia grade prices were at the $1540/tonne CFR Far East Asia mark while PP film grade prices were at $1545/tonne – $1550/tonne CFR Far East Asia levels.
In South East Asia, prices of PP injection grade were at $1555/tonne CFR levels while PP film grade prices were assessed at $1565/tonne CFR levels.
In China, the buying mood remained subdued, reported Polymerupdate. Local prices of PP injection and PP raffia were down the past week at Yuan 12550/tonne – Yuan 12600/tonne ex works levels. Sellers in China confirmed that even after the price fall, purchase activity in PP in the domestic markets failed to improve.
Prices of HDPE also dropped across Asia in the past week. As the regional buying pulse softened and upstream ethylene costs fell, sellers had little choice but to down revise their offer rates. HDPE injection molding grade prices were down at $1375/tonne CFR Far East Asia levels while HDPE blow molding prices were at $1380/tonne CFR Far East Asia levels. HDPE film grade prices were at $1375/tonne CFR Far East Asia levels.
In South East Asia, HDPE injection molding and HDPE film grade prices were assessed at $1385/tonne CFR levels while HD blow molding prices were at $1390/tonne CFR levels.
In China, where buying has slowed, domestic prices of HD film grades declined to the Yuan 11350/tonne – Yuan 11400/tonne ex works mark. Despite the price reduction, sellers polled voiced their inability to secure good-sized orders.
As some ethylene crackers in Asia are re-started in the coming weeks, ethylene availability will lift, increasing the downward pressure of PE prices unless demand begins to lift, added Polymerupdate.
LDPE prices sank across Asia last week as well. A drop in ethylene feedstock costs coupled with slow demand weighed heavily on spot prices. CFR Far East Asian prices for general purpose LDPE were down at $1540/tonne levels while CFR South East Asia prices were down at the $1560/tonne mark.
LDPE offers to India from Qatar were heard pegged at the $1650/tonne CFR mark while offers from Thailand’s PTTPM were at $1620/tonne CFR levels. In China, purchase activity was slow, and domestic prices of LDPE were down at Yuan 13150/tonne – Yuan 13200/tonne ex works levels.
Prices of LLDPE fell as well across Asia during the past week. The fall recorded in ethylene feedstock values and mounting uncertainties surrounding the health of the U.S. and European economies both were cited as reasons for the movement. CFR Far East Asia prices of LLDPE were down at $1320/tonne levels while CFR South East Asia prices were at $1335/tonne levels. Offers to India from Qamar were pegged at $1370/tonne levels, a price at which the supplier claimed to have concluded some sales.
In China, buying activity was sluggish with domestic prices slipping to levels below the Yuan 11000/tonne ex works mark. Even with prices down at Yuan 10900/tonne – Yuan 10950/tonne levels, buying interest remained soft in the domestic PE markets.
It was the same tune for PVC pricing in the region. CFR China’s PVC suspension grade prices were down at $1110/tonne levels while CFR South East Asia’s PVC prices were at $1115/tonne levels. Polymerupdate says it heard of offers to India from Formosa at $1140/tonne CFR levels, however there was no buying interest at this price. Offers to India for material from Mexico were at $1090/tonne levels with some deals heard done at this price. CGPC (Taiwan) meanwhile offered PVC to India at the $1105/tonne CFR mark.
In China, where domestic buying activity was slow, local prices of ethylene-based PVC were at Yuan 8225/tonne levels while carbide-based PVC prices were around Yuan 7775/tonne levels.
Polystyrene prices were unchanged from the week before. Last week GPPS prices were at the $1600/tonne CFR China mark while CFR South East Asia prices were at $1620/tonne levels. CFR China prices of HIPS were at $1820/tonne levels while CFR South East Asia prices were at $1840/tonne levels.
In China the buying mood was very weak with sellers of both HIPS and GPPS unable to conclude sales, reported Polymerupdate.
ABS prices in Asia declined in the past week. Week on week, prices of ABS were down at $2215/tonne CFR China levels. Offers to China were at the $2250/tonne CFR levels, however there was not buying interest at these rates. Some buyers in China claimed to have received offers for ABS at the $2200/tonne CFR mark.
CFR South East Asia prices for injection grade ABS were down at $2235/tonne levels.
Source : www.plasticstoday.com