Polypropylene (PP) prices firmed in Asia last week, on the back of bullish crude and naphtha values coupled with week-on-week gains in propylene, according to Polymerupdate. The startup of cracker turnaround season across Asia is expected to trigger a climb in regional prices of olefins while tightening spot availability. PP raffia and injection molding prices rose to $1390/tonne CFR Far East Asia, a week-on-week rise of $20/tonne. CFR South East Asia prices were assessed up at $1410/tonne, while CFR South Asia prices were assessed up at $1440/tonne CFR. In India, petrochemical major Reliance Industries announced a Rs 2/kg basic hike in its prices of PP, effective from March 1.
Polyethylene (PE) was on the move in Asia, with high-density PE film prices edging higher. Prices climbed in tandem with a rise in crude and naphtha and with strength in ethylene. HDPE film prices on March 1 rose to $1385/tonne CFR Far East Asia. In South East Asia, prices were assessed at $1420/tonne CFR. In India, Reliance Industries (RIL) announced a price increase of Rs 2/kg basic with effect from March 1, 2012. An HD film buyer in China contacted by Polymerupdate producer offers range between $1450 and $1500/tonne CFR.