Polypropylene (PP) prices in Asia last week were hammered lower, dropping due to muted regional buying, plentiful availability and softer feedstock costs, according to Polymerupdate. CFR Far East Asia prices of PP injection and raffia fell to $1255/tonne, a steep tumble of more than $60/tonne on the week. In South East Asia, prices of PP injection and PP raffia were assessed down at $1260/tonne CFR while CFR South Asia prices were assessed down at $1330/tonne. Block copolymer prices were assessed at the $1340/tonne CFR China mark, while the Chinese domestic ex works prices of PP injection and raffia were at the Yuan 10,100/tonne levels.
High-density polyethylene (HDPE) prices in Asia also declined last week, falling on regional buying trends, as well as a sluggish buying mood in China, where converters polled by Polymerupdate voiced disinterest in purchasing ahead of the Chinese lunar holidays which begin on January 22. HDPE film prices were assessed down mid week at $1270 to $1280/tonne CFR Far East Asia, a week on week drop of $30/tonne. CFR South East Asia prices dropped to $1290/tonne CFR. HDPE film offers from Iran were at the $1250/tonne CFR China mark, with other Middle Eastern sellers pricing their HDPE film at $1270 to $1280/tonne CFR. In China meanwhile, Sinopec has slashed its HDPE prices with revised rates at the Yuan 10,900/tonne levels....