China’s PE, PP import prices down 4.2% on weak demand

22 December 2011 08:45  [Source: ICIS news]

SINGAPORE (ICIS)--China’s polypropylene (PP) and polyethylene (PE) import prices have fallen by up to 4.2% on the back of lower-priced Middle Eastern material offered for January shipment, industry sources said on Thursday.

The benchmark PP injection and yarn grades were offered at $1,260/tonne (€970/tonne) CFR (cost & freight) China for January shipment, Chinese traders said.

This is $55/tonne or 4.2% lower from last week’s average trading price at $1,315/tonne CFR China, according to ICIS.

Film grade high density polyethylene (HDPE) and linear low density polyethyelene (LLDPE) from the Middle East were offered at $1,280/tonne and $1,140/tonne on a CFR China basis, for January shipment, Chinese traders and Middle East producers said.

These offers are 3.8% and 2.6% lower from last week’s average trading prices at $1,330/tonne CFR China and $1,170/tonne CFR China, according to ICIS.

Middle Eastern producers have reduced their price offers in hope that importers will place orders for large quantities despite the weak downstream demand, Chinese traders said.

There is a lack of buying interest for January shipment as downstream demand is typically weak in the run up to the Lunar New Year holiday, traders said.

China will be closed on 22-28 January for the Lunar New Year.

($1 = €0.77)

For more on PE, PP visit ICIS chemical intelligence


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