ICIS has enhanced its Asia polypropylene (PP) and polyethylene (PE) price reports by adding monthly settlement prices (MSPs) and daily indicative prices, to further complement the trusted industry pricing information available in both reports.
The average weekly spot prices of linear low density polyethylene (LLDPE) and PP flat yarn in China have fallen by about 29% and 34% respectively over the past six months, as sharp falls in global energy prices led to panic selling in the downstream polyolefins markets, according to ICIS.
The recent meltdown in Asian polyolefins spot markets highlighted the high volatility of PE and PP spot prices in the region, and the need for financial instruments that can be used for hedging price risks.
How can ICIS support PP and PE market participants?
Quoted on a CFR (cost & freight) China basis, the LLDPE and PP flat yarn MSPs are the monthly averages of the ICIS weekly spot price assessments, and will act as a useful reference for contract pricing.
These MSPs will also be the final settlement prices for the Singapore Exchange’s (SGX) LLDPE and PP flat yarn swaps and future contracts.
In addition to the MSPs, ICIS has also started publishing daily indicative spot prices for LLDPE and PP flat yarn grades on a CFR China basis. The daily indicative prices are based on deals, bids, offers and/or buy-sell price ideas.
Published daily by 16:00 Singapore time (08:00 hours GMT) via the ICIS Dashboard, the daily indicative prices inform market players of the prevailing transactions and discussion levels in the spot physical markets, for both Asian PP and PE. It also acts as a reference point for participants who trade in the PE and PP swaps and futures markets.
ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts.
With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. Some 350 of ICIS’s staff are journalists engaged in reporting market prices and news, and ICIS is fully committed to upholding the highest journalistic principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles.
Reed Business Information provides information and online data services to business professionals worldwide. Customers have access to our high-value industry data, analytics, information and tools. Our strong global brands hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group plc, a world-leading provider of information solutions for professional customers across industries.
RELX Group plc is a world-leading provider of information solutions for professional customers across industries.
We help scientists make new discoveries, lawyers win cases, doctors save lives, and executives forge commercial relationships with their clients. We help insurance groups offer customers lower prices by assessing risk better, and save taxpayers and consumers money by enabling governments and financial groups to detect fraud.
ICIS provides dedicated pricing reports on Asia’s PP and PE markets, including the latest prices, market news and analyses. Whether you are a producer, seller or buyer, the reports help you to benchmark your transactions and to further understand price drivers in the region.
Both the Asian PP and PE reports include:
Independent and reliable pricing and market intelligence for the global chemical and oil markets.