07 July 2011 11:20 [Source: ICIS news]
SINGAPORE (ICIS)--China’s polyethylene (PE) prices have risen by as much as 4.9% this week as end-users and traders of local plastics have started restocking on expectations that domestic supply will tighten in July and August, local distributors said on Thursday.
Several local plants are scheduled to be shut for maintenance and this will cause domestic PE supply to tighten, the distributors added.
Asian and Middle Eastern film grades linear low density PE (LLDPE), low density PE (LDPE) and high density PE (HDPE) were sold at $1,270-1,300/tonne (€889-910/tonne) CFR (cost & freight) China, $1,520/tonne CFR China and $1,320-1,360/tonne CFR China respectively this week, local traders and converters said.
The average weekly prices of film grades LLDPE, LDPE and HDPE were assessed at $1,210-1,240/tonne CFR China, $1,450-1,500/tonne CFR China and $1,280-1,320/tonne CFR China respectively for the week ending 1 July, ICIS data showed.
($1 = €0.70)
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