HDPE Prices in Asia stayed unchanged this week. Ongoing geopolitical tensions, including the Russia–Ukraine conflict and U.S. sanctions on key oil producers, have heightened supply chain risks and pushed up crude oil prices, adding volatility to the global energy landscape. In China, the HDPE market held steady-to-soft as buyer–seller price gaps widened. Middle Eastern suppliers kept firm pricing, anticipating Q4 plant shutdowns to secure margins, while buyers leaned toward cheaper U.S. shipments. Ample spot supply and weak downstream demand capped any price rise. In Southeast Asia, demand fell despite stable prices, as new capacities in Malaysia and Vietnam increased supply. U.S. shipments for November–December further pressured prices, though limited volumes prevented sharp drops. Converters restocked ahead of peak demand in October–November, but overall demand stayed below 2024 levels. In India, HDPE prices held steady, though sentiment weakened due to new 50% tariffs on Indian exports, rupee depreciation, and severe monsoon rains disrupting logistics. Weak festival demand and halted U.S.-directed bag shipments further limited market activity. Pakistan’s HDPE remained stable but weighed down by excess inventories from Iranian imports and logistical challenges caused by flooding. Sri Lanka and Bangladesh reported steady prices but subdued demand amid economic uncertainty and high stock levels.
LDPE prices, on the other hand, declined across Asia. In China, stable-to-soft trends emerged as Middle Eastern suppliers maintained firm pricing ahead of Q4 shutdowns, while buyers preferred cheaper U.S. imports. Abundant spot supply and weak downstream demand curbed price increases. In Southeast Asia, LDPE stayed stable but demand softened as U.S. cargoes for late 2025 pressured the market. In India, prices fell due to sluggish demand, high tariffs, rupee weakness, and logistics issues from heavy rains. Pakistan saw steady-to-lower prices with transport disruptions and low sentiment. Sri Lanka and Bangladesh also saw softer prices as buyers remained cautious and inventories stayed high.
LLDPE prices also moved lower in Asia. China’s market was stable-to-soft, with Middle Eastern suppliers holding steady offers but demand favouring U.S. imports. Ample availability and weak downstream activity limited any upward movement. In Southeast Asia, prices fell further, with Indonesian markets softening and Vietnam expecting pressure as Longson Petrochemical restarts operations. Buyers increasingly turned to local suppliers to avoid forex risks. In India, weak demand, tariffs, rupee depreciation, and monsoon disruptions limited trade. Seasonal demand in September may provide some support, though abundant supply and import cost pressures could cap gains. Pakistan saw sharper declines amid oversupply, Iranian inflows, and weather-related logistics disruptions. Sri Lanka and Bangladesh remained steady-to-weaker as buyers delayed purchases, awaiting September offers.
Polypropylene prices rolled over in Asia. China’s market weakened as new supply from CNOOC Daxie pressured prices despite high operating rates. Demand recovery was slower than expected. In Southeast Asia, weak consumer demand and rising supply weighed on sentiment. India’s PP hit a four-year low on oversupply and poor demand, worsened by 50% U.S. tariffs. Pakistan’s market was dampened by heavy monsoon rains, delaying recovery. Sri Lanka and Bangladesh stayed stable but subdued as buyers adopted a wait-and-see approach.
Polystyrene stayed steady despite weaker styrene monomer costs. Oversupply and muted demand capped price movements across Asia. China’s PS remained flat as buyers favoured domestic sourcing. Southeast Asia saw cautious trade, with suppliers limiting operations to avoid inventory build-up. India reported weak demand amid cheaper Chinese imports and rupee depreciation. Sentiment across Asia stayed cautious, with no clear signs of recovery.
ABS prices also drifted lower in Asia. Oversupply, poor downstream demand, and limited buying interest pressured the market, despite some upstream cost support. China’s ABS injection prices fell on weak demand, while Southeast Asia saw softer offers from Northeast Asia. Sellers continued to operate at lower capacities, with muted demand from key industries such as home appliances.
PVC prices eased in parts of Asia but remained steady in India. Oversupply, weak demand from construction and packaging, and cheaper imports from China and the U.S. weighed on the market. Futures declines and lower coal prices added to bearish sentiment. Southeast Asia saw thin trade and stagnant prices, with buyers waiting for September offers. In India, anti-dumping duties pushed domestic prices higher, but weak end-product demand and monsoon disruptions tempered restocking. Pakistan’s PVC market stayed muted amid floods and reduced downstream demand.
PET prices rolled over in Asia. Export demand weakened on seasonal slowdown and high stock levels, with producers cautious about new orders. In China, bottle-grade PET margins remained under strain, while polyester yarn and fiber saw modest restocking. Southeast Asia showed limited activity as buyers delayed purchases, waiting for lower prices and clearer demand signals.
