This week, prices for HDPE and LLDPE in the Gulf Cooperation Council (GCC) region headed downward, while LDPE rates remained stable.
An industry source in the GCC, speaking anonymously to Polymerduniya, noted that ample supply and tepid demand during the typical summer lull, particularly in both the GCC and East Mediterranean regions, have emboldened buyers to push back on recent price proposals. Decreased offers from foreign suppliers and subdued spot activity added to the downward pressure, intensifying market competition.
Geopolitical tensions, including concerns over renewed hostilities between Iran and Israel and ongoing unrest in Gaza and southern Syria, have made buyers more cautious, further dampening sentiment.
HDPE film prices were assessed at USD 920–990/mt CFR, down USD 10/mt. Whereas, HDPE injection at USD 930–1,000/mt CFR, also down USD 10/mt. HDPE blow moulding prices at USD 940–990/mt CFR, again falling by USD 10/mt. LLDPE film prices dropped to USD 920–980/mt CFR, a similar USD 10/mt week-on-week decline. LDPE film prices held steady at USD 1,120–1,140/mt CFR.
Meanwhile, global upstream ethylene trends varied by region. In Asia, ethylene prices remained stable amid cautious sentiment, balanced supply-demand, and limited buying activity as market participants held off until market clarity improved.
In Europe, ethylene prices ticked upward due to unexpected production issues at key facilities, which disrupted supply chains. Though demand remained subdued due to the summer slowdown, the supply constraints are exerting upward pressure on spot pricing.
In the US, ethylene spot prices declined following reports of reduced August offers and thin transactions. Crude oil softness and weaker downstream demand, particularly from packaging and construction, further weighed on prices. However, rising export volumes to Europe are expected to tighten availability in the coming months.
