Import HDPE b/m prices pare losses on lower supply in China
As data from ChemOrbis Price Index shows in the below graph, import HDPE b/m prices on a weekly average basis have recorded a cumulative increase of $83/ton for the last four weeks after touching their lowest level since March 2016. Data also suggests that prices lost around $140/ton within a softening period of five months which ended by mid-July.
A few traders opined, “Overall supply levels for PE are not high at the moment while HDPE blow moulding supplies are slightly limited, pushing prices higher. Demand is improving in line with the approaching high season. Futures prices are firming while spot ethylene remains on a bullish note.”
The overall import HDPE b/m range is reported this week at $1060-1140/ton CIF, China cash.
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