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.
17-Nov-08 
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