China’s Sinopec hikes LDPE offers by CNY100-200/tonne

23 July 2013 10:41  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec has raised its domestic prices for low density polyethylene (LDPE) by CNY100-200/tonne ($16-33/tonne) on Tuesday on tight supply, a company source said.

There is a shortage of cargoes coming from Iran and the market is anticipating the 15-day shutdown of Daqing Petrochemical’s 265,000 tonne/year LDPE plant next month, the source said.

Domestic LDPE prices in China were at CNY11,550-12,000/tonne at the close of trade on Tuesday, up by CNY50-100/tonne from Monday, according to Chemease, an ICIS service in China.

($1 = CNY6.14)

By: Lizzie Yu

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