LLDPE prices witness a sharp fall in Asia
LLDPE prices tumbled in Asia this week. Prices fell as buying interest remained lackluster in the region coupled with softer upstream energy prices adding to the sluggish purchase mood.
Reports of sufficient product availability in the region further supported the price fall.
CFR Far East Asia prices of LLDPE were assessed down at the USD 1135/mt levels, a week on week slide of USD 55/mt. CFR South East Asia prices were assessed at the USD 1185/mt levels, a sharp fall of USD 40/mt from the previous week.
CFR South Asia prices were assessed lower at the USD 1225/mt levels, week on week drop of USD 25/mt.
In the domestic markets of China, LLDPE prices were assessed down at the Yuan 9120/mt ex works levels.
Feedstock ethylene prices on Wednesday were assessed steady from last week at the USD 1195/mt CFR North East Asia levels. CFR South East Asia prices of ethylene were assessed at the USD 1175/mt levels, a week on week rise of15/mt.
Open spec naphtha prices on Tuesday were at the USD 394.50/mt CFR Far East Asia levels, a week on week fall of USD 5.50/mt.
In plant news, Wuhan Petrochemical has shut its 300,000 mt/year LLDPE plant, located in Hubei province, China, in the first week of April 2016. The plant is expected to remain off-stream until end-May 2016.
In other plant news, Zhongyuan Petrochemical, China has undertaken an unplanned shutdown at its 260,000 mt/year LLDPE unit, on April 17, 2016. The restart date of the plant has not been confirmed.