LDPE loses premium over HDPE in China’s local market
According to data from ChemOrbis Price Index, local LDPE film prices on a weekly average basis started to gain premium over HDPE film in mid-August on the back of reduced supplies for this grade. After reaching $295/ton in early November, the largest level since April 2011, the premium started to shrink and it has recently decreased to $59/ton. When compared to the pre-holiday week, LDPE’s premium over HDPE is currently down by $149/ton as LDPE has posted a sharper loss than HDPE.
A Shanghai-based trader commented, “Local PE prices have been losing ground since the start of February due to increasing local supplies and unsatisfactory demand, especially for LDPE.”
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