Asian PVC players have received November offers from a major Taiwanese producer with decreases of $30/ton in China and $60/ton in India. Although the softer pricing did not come as a surprise, the decrease amount exceeded the initial expectations.
In Asia, spot propylene prices have moved above spot ethylene prices for the first time in almost five years. The weekly average of spot propylene prices on FOB Korea basis gained premium of around $30/ton over ethylene.
According to data from ChemOrbis Price Index, import LDPE and LLDPE film prices in China are currently trading close to par with spot ethylene, a situation that last occurred in around mid-May of this year.
Market players in Turkey have mostly concluded their October business with rollovers for PP and drops for PE. However, trading remained limited to moderate quantities due to the ongoing financial issues.