27 May 2008 20:13 [Source: ICIS news]
SINGAPORE (ICIS news)--Japanese polyethylene (PE) producers have proposed to raise domestic prices substantially for June delivery to match higher costs arising from soaring feedstock naphtha prices, a Japanese PE producer said on Tuesday.
“Local PE producers have proposed price hikes of $190/tonne or more for June delivery,” the source said on the sidelines of the Asia Petrochemical Industry Conference (APIC).
He added that the different PE grades were currently selling at around Yen (Y) 200/kg on a delivered basis.
The average domestic naphtha price in ?xml:namespace>
Meanwhile, new PE capacities due to come on stream in the Middle East over the next few years were unlikely to have significant impact on the Japanese market, he said.
“Japanese plastics processors buy on a delivered basis and they only accept material packed in jumbo bags, but most
Middle East producers could sell material to
There are eight PE producers in Japan, namely Japan Polyethylene, Nippon Unicar, Prime Polymer, Ube-Maruzen Polyethylene, Keiyo Polyethylene, Sumitomo Chemical, Asahi Kasei Chemicals and Tosoh.
ICIS custom publishing and The Chemical Daily have produced an official 84-page special publication on Asian petrochemicals for the APIC event
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