GLOBAL POLYMER MARKET SYNOPSIS
Asia HDPE: This week, HDPE prices declined in Asia. The price fall was prompted by weaker upstream ethylene rates and continued sluggish demand trends in the region. Reports of ample product availability and lower import offers from overseas polymer producers further supported by the price drop. LDPE: LDPE prices drifted lower in Asia this week. Weaker upstream ethylene values coupled with persistent bearish regional demand trends supported the price fall. Lower import offers from overseas producers further pushed prices lower in the region. LLDPE: LLDPE prices dropped across the Asian region this week on reports of persistent dull buying sentiments and lower import offers from overseas producers. Prices were also pressured lower by weaker upstream ethylene values and a sharp drop in LLDPE futures on the Dalian Commodity Exchange in China. PP: This week, PP prices tumbled across the Asian region mainly on account of persistent sluggish demand trends, lower import offers from overseas suppliers and weaker upstream propylene values. The US dollar trading higher against a range of Asian currencies also dampened the market sentiment in Asia. A sharp drop in PP futures on the Dalian Commodity Exchange in China further pulled prices lower. PS: PS prices tumbled across the Asian region this week. The sharp price fall was triggered by weaker regional demand trends and sufficient product availability. Reports of weaker upstream SM values also supported the price drop ABS: Despite weaker upstream SM & ACN values, ABS prices were assessed flat across the Asian region this week. PVC: This week, PVC prices tumbled in parts of the South Asian region. Prices fell on the back of lower import offers from overseas producers and reports of bearish demand trends. Weaker upstream ethylene and VCM values also drove prices lower. PET: Despite higher upstream PTA values, persistent weaker demand trends and sufficient product availability, PET prices were assessed steady in Asia this week. Europe HDPE: This week, HDPE spot prices dropped in Europe on reports of lack of buying interest in the region towards the month-end and buyers remaining on the sidelines in anticipation of further price decrease in the region. This further forced HDPE sellers to reduce their prices in the spot markets. LDPE: LDPE prices declined sharply in Europe this week. The sharp price drop was on the back of thin buying interest from the players in anticipation of further price drop in upcoming offers in the region. LLDPE: LLDPE prices were assessed lower in Europe this week on the back of muted buying sentiments ahead of an anticipated price drop in June offers in the region. PP: This week, PP prices drifted sharply lower in Europe on the back of limited demand coupled with shipment and transport delays. PS: PS prices displayed a mixed undertone in Europe this week. The price fall was on the back of lower supplier offers and sufficient product availability in the region. ABS: ABS prices nosedived in Europe on account of bearish demand sentiments and ample product availability this week. Weaker upstream SM and ACN values further further supported the price drop. PVC: PVC spot prices slipped in Europe this week mainly in line with weak demand trends and improved product inventories in the region. Bearish upstream spot ethylene rates further supported the price drop. PET: This week, spot PET bottle grade prices declined in Europe. The price fall was on the back of sluggish buying sentiments and ample regional product availability. US HDPE: Despite firmer upstream ethylene values and limited product avails, HDPE export prices were assessed steady in the United States this week. LDPE: This week, LDPE export prices were assessed flat in the United States. Buying inquiries from overseas markets were reported to be slow. LLDPE: LLDPE export prices were assessed steady in the United States this week. Buyers are awaiting fresh offers from suppliers for June 2022. PP: This week, PP export prices dropped in the United States followed by bearish upstream polymer grade propylene rates and sluggish demand trends from overseas markets. A sharp drop in upstream polymer grade propylene contract price settlements for the month of May 2022 further supported the price fall. PS: PS export prices plunged in the United States triggered by dull buying sentiments from the overseas markets this week. Product availability was reported to be tight for prompt export cargoes. ABS: Despite bullish upstream SM values, ABS prices tumbled in the United States this week. Demand trends were reported to be soft amid ample product supply in the region. PVC: Despite stronger upstream ethylene values, PVC export prices continued to remain flat in the United States this week.