That headline could be the very brief executive summary of this week's report for us on plastics market in Asia from pricing information service Polymerupdate. The various types of polyethylene, polypropylene, polystyrene, ABS, PVC-prices dropped for all of them last week. The drops are little wonder as the uncertainty in the stock market spreads to the "real" world and begins to curb consumer demand.
According to Polymerupdate, HDPE prices fell-tumbled, in fact- last week in Asia as a decline in prices of naphtha, a fall in ethylene feedstock rates and a drop in regional buying interest all contributed toward the price fall. HDPE injection molding and HDPE film grade prices were down at $1395/tonne CFR Far East Asia levels. CFR South East Asia prices of HDPE injection and HDPE film grades were at $1405/tonne levels. In India, the last deals for HMHDPE film were heard done at $1480/tonne to $1490/tonne CFR levels, according to Polymerupdate....