This week, Low density polyethylene prices gained in Asia.
An industry source in Asia wishing to remain unidentified informed a Polymerupdate team member, “Although there has been no further escalation in Iran and Israel hostilities, geopolitical tensions in the Middle East have not subsided, with the region continuing to remain on edge. Meanwhile, international oil prices have largely remained range-bound."
The source added, “LDPE prices firmed on the back of limited product avails amid peak seasonal demand.”
In Far East Asia, LDPE film grade prices were assessed at the USD 1050-1080/mt CFR levels, a rise of USD (+20/mt) from the previous week.
In China, overseas suppliers have offered their LDPE film grades in the range of USD 1050-1080/mt CFR levels for shipment in May 2024.
In Southeast Asia, LDPE film grade prices were assessed at the USD 1110-1150/mt CFR levels, a week on week increase of USD (+10/mt)
In Vietnam, overseas suppliers have offered their LDPE film grades in the range of USD 1110-1150/mt CFR levels for shipment in May 2024.
In India, LDPE prices were assessed at the USD 1150-1180/mt CFR levels, up USD (+20/mt) from last week.
A domestic industry source informed a Polymerupdate team member, “Reliance Industries Limited (RIL) announced a revision in PE prices with effect from April 10, 2024. LDPE grade prices were raised by Re.1/kg basic, except LDPE HD grade prices which have been increased by Rs.3/kg basic and LDPE EC prices which were hiked by Rs.5/kg basic.”
In Pakistan, LDPE prices were assessed at the USD 1110-1160/mt CFR levels, an increase of USD (+10/mt) week on week.
In Pakistan, overseas suppliers have offered their LDPE film grades in the range of USD 1110-1160/mt CFR levels for shipment in April 2024.
In Sri Lanka, LDPE prices were assessed at the USD 1150-1190/mt CFR levels, a gain of USD (+10/+20/mt) from last week.
In Bangladesh, LDPE prices were assessed at the USD 1130-1160/mt CFR levels, a week on week rise of USD (+10/+20/mt).
In feedstock news, CFR North East Asia feedstock ethylene prices were assessed at the USD 910-920/mt levels, down USD (-15/mt) from the previous week. Meanwhile, CFR South East Asia ethylene prices were assessed stable at the USD 1005-1015/mt levels.
In plant news, Zhongtian Hechuang is likely to take off stream its Low density polyethylene (LDPE) unit for maintenance in mid-June 2024. The unit is slated to remain offline until end July 2024. Located in Ordos, Inner Mongolia in China, the unit has a production capacity of 370,000 mt/year.
In other plant news, Sinopec Maoming Petrochemical has brought on stream its No.1 low density polyethylene (LDPE) unit in Guangdong, China on 13 April, 2024 following a turnaround. The unit was shut for maintenance towards end February 2024. The No.1 LDPE plant has a production capacity of 120,000 mt/year.
