Outlook for HDPE seems positive, LDPE and LLDPE continue to weaken due to pessimism

China, a key player in the world economy has announced a US$586 bln economic stimulus package to boost its floundering economy. The sentiments in polyethylene markets have been mixed. After successful conclusion of CFR China deals at US$775/MT, HDPE prices firmed by about twenty dollars, despite availability of cargoes lower than US$750/MT. As sentiments become firmer, buying intentions elevate uptil US$700/MT. Quiet demand due to the cyclical nature of demand for LDPE as well as LLDPE, have depressed offers. CFR China offers dipped to US$800-840/MT for LDPE and to US$705-750/MT for LLDPE. Deals were concluded at levels of US$800/MT for LDPE and US$640/MT for LLDPE. Since HDPE markets have revived, LDPE prices, in all likelihood, may have bottomed out, coupled with restricted supply in the region due to production cuts by major producers.
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