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Southeast Asia’s HDPE film market hits more than two-year high

by ChemOrbis Editorial Team -
  • 10/11/2017 (04:07)
In Southeast Asia, import HDPE film prices rebounded this week after following a mostly stable to softer trend for six consecutive weeks. Regional players attributed higher offers to the ongoing tightness along with the recently improved demand. The upturn of crude oil futures as well as higher spot ethylene prices in Asia also helped the sentiment improve.

According to data from ChemOrbis Price Index, the weekly average of import HDPE film prices on CIF Southeast Asia basis hit its highest level since August 2015.

“Limited availability had prevented HDPE prices from posting major losses during the previous month while it became more dominant in affecting the price trend this week. HDPE demand is strong, particularly for the film and pipe grades,” some regional traders noted.

In Asia, spot ethylene prices have recently rebounded from a more than two-month low in line with surging energy complex. Higher upstream costs also encouraged HDPE sellers to take a firmer stance on their offers.

A trader based in Singapore commented, “Suppliers of the mainstream HDPE film origins mostly sold out their November allocations. Demand might slow down in December as most regional converters secured their needs.”

Meanwhile, a few converters in the region opined, “We are limiting our HDPE purchases according to our urgent needs as we think that the current levels are too high to be accepted. We think that the weakness of LDPE and LLDPE film might weigh down on the HDPE sentiment in the near term.”
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