Import HDPE prices for May rise in Asia, LDPE, LLDPE prices fall

Major global producers have announced May import prices to Asian markets with rollovers to increases for HDPE film while May import prices for LDPE and LLDPE film have been announced with rollovers to decreases from April, as per Chemorbis. Players attributed the gains in HDPE film prices to comparatively better demand for HDPE as well as limited HDPE film stocks inside China. Seasonally slower demand for LLDPE film has also contributed to the weakness in LLDPE film prices, as has the fact that most traders inside China now say that LLDPE film stocks are high. Following a month of steady gains for HDPE film prices relative to LLDPE film prices, data from ChemOrbis Price Index indicates that HDPE and LLDPE film prices are currently trading at close to par in both China and Southeast Asia. A major global producer announced May prices to China this week with rollovers for both Singaporean LLDPE film and Middle Eastern HDPE film. Seeing comparatively good demand for HDPE film from Chinese buyers, the producer later raised HDPE film prices by US$20/ton, although they commented that buyers began to show greater resistance to their HDPE film prices after their price increase. A Middle Eastern producer, who had announced initial May prices last week with an increase of US$10/ton for HDPE film and a decrease of US$50/ton for LLDPE film from April stated that they have nearly concluded their May business at prices equal to their initial offer levels. Another Middle Eastern producer announced their May prices with decreases of US$10/ton for LLDPE film and increases of US$30/ton for HDPE film when compared with their April offers levels to the Chinese market. In Southeast Asia, producers have also been announcing higher May prices for HDPE film with reductions or roll overs in their LLDPE and LDPE film prices. A Middle Eastern producer announced May prices to Southeast Asia this week with decreases of US$30-40/ton for LLDPE film and rollovers for HDPE film when compared with their April offer levels. Import HDPE, LLDPE and LDPE film prices all gained ground on the higher end of the range this week as Southeast Asian producers began to return to the market with their May prices. Southeast Asian producers generally offer at the upper end of the range as their exports are mostly duty-free within the region owing to the ASEAN free trade agreement. A Southeast Asian producer reduced their May offers for LDPE film by US$30/ton from April this week while another regional producer announced rollovers from April on their prices for LDPE film, LLDPE film and HDPE film.