Polypropylene (PP) prices in Asia slid last week due to sluggish regional buying trends and a decrease in feedstock propylene values, according to Polymerupdate. On Feb. 23, Asian propylene was assessed at $1330/tonne FOB Korea, down sharply. In the downstream PP markets, PP injection and raffia prices fell to $1370/tonne CFR Far East Asia, a week-on-week slide of about $20/tonne. PP sellers polled by Polymerupdate confirmed that buying pulse had failed to lift despite the price decline. Buyer bids were heard to be notional and were at ranging from $1340 to $1350/tonne CFR. In India, offers for PP injection and raffia from a producer in the Middle East were at $1430/tonne CIF Nhava Sheva with deals consummated at these prices. PP film was at $1450/tonne CIF, with offers from LyondellBasell for PP injection and raffia at $1450/tonne CIF Nhava Sheva. PP film prices were at $1470/tonne CIF basis, with a few deals done at this price.
High-density polyethylene (HDPE) film prices in Far East Asia inched higher, rising to $1360/tonne CFR. Offers were at $1380/tonne CFR and higher, although buyer bids continued to languish at $1350/tonne CFR mark and below. In South East Asia, HDPE film prices were assessed at $1385/tonne CFR. An HDPE seller contacted by Polymerupdate noted that March marks the start of cracker turnaround season, which could further impact the market. In India, deals in HDPE film were done at $1430/tonne CIF Nhava Sheva, with the seller purported to be Saudi. Fresh offers from Middle East firm Equate were at $1430/tonne CIF mark, while SABIC is heard to have offered HDPE film at $1460/tonne CIF Nhava Sheva.