The fall in the prices being demanded for most commodity resins across Asia continues. According to plastics pricing service Polymerupdate, prices were down over the past week for PP, PE, PS, PVC and related plastics. Most of the downward pricing pressure is being chalked up to lackluster demand.
For instance, polypropylene (PP) prices drifted lower this week in Asia as regional buying trends turned very sluggish, reported Polymerupdate. PP injection and PP raffia grade prices were down to $1515/tonne CFR Far East Asia levels. Bids were few and were heard pegged at the $1500/tonne CFR levels and below. PP film grade material prices were down at $1525/tonne CFR Far East Asia levels. Block copolymer prices were down at $1550/tonne CFR Far East Asia levels.
According to one buyer of PP who Polymerupdate spoke with, next month likely will bring no increase in prices of PP, as holidays and China and then India will continue to limit demand.