02 August 2013 04:34 [Source: ICIS news]
SINGAPORE (ICIS)--Import prices of low density polyethylene (LDPE) import prices in China and southeast (SE) Asia rose by $20-30/tonne (€15-23/tonne) this week as concerns over tight supply in August and September triggered active restocking activity, industry sources said on Friday.
Qatari LDPE film grade was sold at $1,550/tonne CFR (cost and freight) Indonesia this week, $30/tonne higher from last week, local traders said.
In China, Qatari LDPE film grade was sold at $1,545/tonne CFR China for August shipment, $20/tonne higher from last week, Chinese traders said.
On 26 July, LDPE film grade’s weekly average import prices were assessed at $1,503/tonne CFR China and at $1,550/tonne CFR SE Asia, according to ICIS.
Regional supply is expected to be very tight in August and September because of an outage at PTT Global Chemical’s plant in Thailand, and a scheduled maintenance at Petlin’s plant in Malaysia, regional traders said.
Supply in China was already tight because of a lack of Iranian LDPE being offered to that market, local traders said.
Iran is the top LDPE exporter to China since 2010, according to China customs’ data.
Additional reporting by Angie Li
($1 = €0.76)
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