This week, Low density polyethylene prices marched higher in the Asian region.
An industry source in Asia wishing to remain unidentified informed a Polymerupdate team member, “Geopolitical tensions have been escalating in the Middle East with weather agencies hinting at a strong hurricane season in the United States even as market players remain focused on the risk posed by Category 5 hurricane Beryl to Gulf Coast refineries. Participants are reported to have adopted a cautionary approach as they continue to track global geopolitical and climatic developments having the potential to increasingly disrupt global oil supplies.”
The source added, “Limited product avails further supported the price rise. Asian maritime cargo trade continued to be impacted by limited container space availability. Market sentiments were largely stable with buyers holding back against a potential price rise, even as demand for finished goods remained weak.”
In Far East Asia, LDPE film grade prices were assessed at the USD 1170-1230/mt CFR levels, a rise of USD (+10/+20/mt) from the previous week.
In China, Middle Eastern producers have offered their LDPE film grades in the range of USD 1170-1230/mt CFR levels for shipment in July 2024.
In Southeast Asia, LDPE film grade prices were assessed at the USD 1270-1330/mt CFR levels, a week on week increase of USD (+10/+20/mt).
In Vietnam, overseas suppliers have offered their LDPE film grades in the range of USD 1270-1330/mt CFR levels for shipment in July 2024.
In India, LDPE prices were assessed at the USD 1250-1290/mt CFR levels, a week on week rise of USD (NC/+10/mt). A domestic industry source informed a Polymerupdate team member, “Reliance Industries Limited has announced PE prices with effect from July 1, 2024. All LDPE grade prices have been increased by Rs.1.50/kg basic, except LDPE HD grade prices, which have been left unchanged.”
In India, Middle Eastern producers have offered their LDPE film grades in the range of USD 1250-1290/mt CFR levels for shipment in July 2024.
In Pakistan, LDPE prices were assessed at the USD 1210-1240/mt CFR levels, an increase of USD (+20/mt) from last week.
In Pakistan, overseas suppliers have offered their LDPE film grades in the range of USD 1210-1240/mt CFR levels for shipment in July 2024.
In Sri Lanka, LDPE prices were assessed at the USD 1280-1320/mt CFR levels, a rise of USD (+20/mt) week on week.
In Sri Lanka, overseas producers have offered their LDPE film grades in the range of USD 1280-1320/mt CFR levels for shipment in July 2024.
In Bangladesh, LDPE prices were assessed at the USD 1290-1320/mt CFR levels, higher by USD (+20/mt) from the previous week.
In Bangladesh, overseas suppliers have offered their LDPE film grades in the range of USD 1290-1320/mt CFR levels for shipment in July 2024.
In feedstock news, CFR North East Asia feedstock ethylene prices were assessed at the USD 850-860/mt levels, a week on week increase of USD (+10/mt). Meanwhile, CFR South East Asia ethylene prices were assessed at the USD 925-935/mt levels, a drop of USD (-15/mt) on the week.
In plant news, Shenhua Coal to Liquid and Chemical is likely to shut down its Low density polyethylene (LDPE) unit in mid-July 2024. The unit is slated to remain offline until end July 2024. Located in Inner Mongolia, China, the LDPE unit has a production capacity of 270,000 mt/year.
Zhongtian Hechuang has taken off stream its Low density polyethylene (LDPE) unit for maintenance on June 17, 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.
