Polymers in Asia fall in price

MOSCOW (ICIS - MRC) - Despite the ongoing growth of feedstock, the prices of large volume polymers in Asia last week did not change. The prices in the market of polyethylene, polystyrene and PET even slightly declined, according to MRC analysts.

Due to the weak demand price quotations of polyethylene in Asia did not change, despite a further rise in the price of ethylene. Buying interest in imported materials is very low due to the sufficient supply and lower prices from domestic producers. There were offers for re-export of LDPE and LLDPE from China. The prices of these grades of polyethylene last week declined on average by USD20-30/tonne. LDPE and LLDPE were offered on average for USD1,430/tonne, CFR, and USD1,390/tonne, CFR, respectively.

Prices of polypropylene last week in Asia did not change. The demand for imported material from Chinese companies is still low because of the sufficient supply and lower prices in the domestic market. Amid the weak demand in China there were the offers of polypropylene re-export. The prices stayed at USD 1,500/tonne, CFR.

The prices of PVC in the Asian market last week did not change due to low buying activity and national holidays. Price quotations were still in the range of USD1,040-1,070/tonne, CFR. Most market participants suspended their purchases in anticipation of prices for May shipment, which should be announced this week.

The price of the Asian polystyrene decreased resulting from a weak demand for the material. The activity in the market over the last week reduced due to the celebration of the traditional Qingming festival in Northeast Asia. The low demand for polystyrene from European and U.S. consumers make producers lower price quotation. On the back of the decrease in price quotations of polystyrene Asian companies do not hurry to increase the purchases of the material. The prices of general purpose polystyrene decreased to USD1,580-1,620/tonne CFR China, and high-impact polystyrene was at USD1,800-1,830/tonne CFR China.

He prices of bottle PET in Asia continue to decline. Chinese and Korean producers reduced the prices by USD5-10/tonne. Deals were settled at USD1,505-1,530/tonne FOB. Market players reported that the buying activity was weak. Many producers said that shipments were limited and did not exceed 100-300 tonnes. Many producers held back from contracting large volumes waiting for PET prices to slide down further.

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