Polypropylene (PP) prices firmed in Asia last week but doubts have surfaced on the sticking power of the increase. PP prices rose on firmer propylene costs and improved demand in the key markets of India and China. On Thursday, PP injection and raffia grades were assessed at $1400/tonne CFR Far East, down from Wednesday but up more than $25/tonne on the week. PP film prices hit $1410/tonne CFR Far East Asia while block copolymer prices were assessed at $1385/tonne CFR Far East Asia.
Polyethylene (PE) prices were higher, with high-density PE climbing on improved buying trends in India and China, firmer energy rates, and gains in ethylene. HDPE injection molding prices rose to $1325/tonne CFR Far East Asia while HDPE film prices shot up $40/tonne to $1335/tonne. Prices of HDPE injection and blowmolding grades in South East Asia rose to $1350/tonne CFR while HDPE film prices were assessed at $1355/tonne CFR South East Asia. LyondellBasell's offers for HDPE film to India hit the $1330/tonne CFR mark, however no business was heard sealed at this price level. Offers from PTTPM were at $1320/tonne CFR mark. In China, domestic prices of HDPE film were at Yuan 11100/tonne ex works mark.
Asian low-density PE prices were also higher as local demand rose. General purpose LDPE prices rose to $1400/tonne CFR Far East Asia while CFR South East Asia prices were assessed at $1420/tonne. Offers to India from Qatar were at between $1430/tonne to $1460/tonne CFR while offers from PTTPM were at $1440/tonne CFR. No interest was heard at these prices, however.