Asian polyethylene majors drop HDPE offers for September shipment

27-Aug-08
Polyethylene majors from Taiwan and India have slashed offers for next month in the face of feeble demand from China. Fresh HDPE offers from Taiwan, cut by almost fifty dollars, are being observed at US$1760/MT CFR China, with deals being concluded about 15-20 dollars lower. A planned maintenance shutdown by Formosa at one of its crackers will shrink by 30%, exports of polyethylene in the months of September and October. India's Reliance Industries has brought down CFR China September offers for HDPE yarn and injection grades to lows of US$1650/MT. HDPE offers for September shipment from the Middle East ranged around US$1720/MT CFR China for film and injection grades.
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