China’s PE rises by $50/tonne on firm crude, domestic PE

04 August 2010 09:24  [Source: ICIS news]

SINGAPORE (ICIS)--China’s polyethylene (PE) import prices have risen by at least $50/tonne (€38/tonne) this week on the back of hikes in international crude futures and domestic PE prices, industry sources said on Wednesday.

Chinese traders’ deals of imported general film grades high density PE (HDPE), linear low density PE (LLDPE) and low density PE (LDPE) were cited at $1,100-1,160/tonne CFR China, $1,160-1,180/tonne CFR China and up to $1,300/tonne CFR China for August arrival.

These were $50-100/tonne higher from last week’s transactions, they said.

Film grade HDPE, LLDPE and LDPE transactions in the week ended 30 July were at $1,030-1,060/tonne, $1,060-1,110/tonne and $1,170-1,250/tonne, all on a CFR China basis, according to ICIS data.

Locally produced film grades HDPE, LLDPE and LDPE were selling at yuan (CNY) 9,600/tonne ($1,418/tonne), CNY10,000/tonne, CNY11,200-11,300/tonne in eastern China, on an ex-warehouse basis, which were up to yuan (CNY) 600/tonne higher from last week, Chinese traders said.

Domestic prices started rising around two weeks ago when local major Sinopec started raising offer prices, in its efforts to protect margins, the Chinese traders said. The higher offers in turn triggered an uptrend in the retail market, they said.

The traditional high consumption season which typically stretches from September to early November also helped to support the market, they added.

($1 = €0.76 / $1 = CNY6.77)

For more on PE visit ICIS chemical intelligence
Please visit the complete
ICIS plants and projects database
To discuss issues facing the chemical industry go to
ICIS connect


By: Chow Bee Lin
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index