Polypropylene (PP) prices climbed in Asia last week, rising on strength in upstream propylene, according to Polymerupdate. A series of planned regional plant turnarounds helped the buying mood lift as players anticipated a market environment in which product supplies would tighten, with high naphtha costs helping support the increase. On Friday, March 9, propylene prices were assessed up at $1370/tonne FOB Korea in the feedstock markets.
PP raffia prices rose to $1425/tonne CFR Far East Asia, while CFR South East Asia prices were assessed at $1440/tonne. PP injection molding prices were assessed up at $1415 to $1420/tonne CFR Far East Asia while CFR South East Asia prices were assessed at $1440/tonne. Block copolymer prices came in at $1460/tonne CFR Far East Asia and $1470/tonne CFR South East Asia. In China, local prices of PP raffia were at Yuan 10850 to Yuan 10900/tonne ex works. In India, Reliance Industries announced a price increase in its PP prices on March 7. Local rates were hiked by Rs 2/kg basic with effect from March 8.
Polyethylene (PE) rose in Asia last week, with high-density (HDPE) moving higher at the start of the region's cracker turnaround season. Despite relatively quiet trade action seen by Polymerupdate, sellers were able to steer prices higher, citing strength in upstream ethylene costs. HDPE injection molding prices were assessed at $1390/tonne CFR Far East Asia, while CFR South East Asia prices hit $1420/tonne. CFR Far East Asia prices of HDPE film were assessed up at $1400/tonne, while CFR South East Asia prices were assessed at $1420/tonne. In China, HDPE film prices were at Yuan 10850/tonne ex works. ...