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Russian prices of blow molding grade HDPE to cut back

October 17/2011

(MRC) -- Last week the prices of blow molding grade HDPE in Russia began to decline on the back of slumping demand and sufficient supply, according to ICIS-MRC Price Report.

In early August, many Russian converters anticipated the deficit of blow molding HDPE during scheduled turnarounds of several producers in September - October. As a result, companies made polyethylene inventories as much as possible, and in late September on the back of demand growth the prices reached Rb61,500-66,000/tonne, VAT, CPT Moscow.

October did not keep the upward trend. Some converters report about a serious decline in demand for finished products. Some companies have sufficient inventories of blow molding HDPE since August. The resumption of PE production by Russian producers stabilized the situation.

By Monday, Stavrolen had resumed the production of HDPE after its turnaround on October 10. The deliveries of blow molding polyethylene to the domestic market has been planned on Wednesday. Gazprom neftechem Salavat had also resumed HDPE production by beginning of this week. Due to technical problems, the company stopped the capacities ahead of schedule on September, 1st. In October, Nizhnekamskneftechem resumed the deliveries of blow molding HDPE.

By the beginning of the week, a low demand and sufficient supply had resulted in falling of the prices of blow molding HDPE by Rb1,500/tonne to Rb61,500-64,500/tonne, VAT, CPT Moscow.

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