This week, high-density polyethylene (HDPE) prices witnessed declines across parts of Asia, pressured by falling crude values and rising supply. An industry source in Asia, speaking on condition of anonymity, told a team member that the OPEC+ alliance has indicated plans for a production hike in November. The resumption of crude exports from Iraq’s Kurdish region has further weighed on oil markets, collectively dragging down international prices and influencing petrochemical derivatives.
In Far East Asia, HDPE blow moulding prices slipped to the USD 820-880/mt CFR range, down USD (-10/mt) from the previous week. HDPE injection grades held steady at USD 830-860/mt CFR, while yarn and film grades also remained unchanged at USD 880-900/mt CFR and USD 850-900/mt CFR levels, respectively.
In China, offers from Middle Eastern producers varied, with one quoting HDPE film grade at USD 820/mt for October 2025 shipment, while a Saudi producer offered at USD 900/mt. China’s polyethylene import market stayed subdued, as rising US-origin shipments exerted supply pressure before the fourth quarter. Stable Middle Eastern offers widened price disparities, while weak domestic demand kept buying sentiment cautious following the National Day holiday.
Southeast Asia recorded price corrections as October shipments arrived, adding to the oversupply. HDPE film was assessed lower at USD 870-920/mt CFR, yarn at USD 900-940/mt CFR, both down USD (-10/mt). Blow moulding and injection grades, however, stayed steady at USD 830-880/mt CFR and USD 840-900/mt CFR, respectively. A Middle Eastern producer offered film grade at USD 920/mt in Vietnam, while a Saudi producer quoted USD 870/mt. Market activity slowed further as US-origin supplies compounded surplus, and Middle Eastern sellers trimmed prices to boost sales amid weak demand.
In India, HDPE film fell to USD 880-910/mt CFR, with blow moulding assessed at USD 870-900/mt CFR, both down USD (-10/mt). Yarn and injection grades also slipped by USD (-10/mt), assessed at USD 850-900/mt CFR and USD 860-920/mt CFR, respectively. Reliance Industries Limited (RIL) announced a price revision effective October 1, 2025, cutting HDPE prices by Re.1/kg and withdrawing price protection. Import offers in India were heard at USD 880/mt from a Middle Eastern supplier, USD 910/mt from a Saudi producer, and USD 850-860/mt for Iranian-origin cargoes. A weak rupee and sluggish demand capped import interest, though festive season incentives and potential GST-driven FMCG demand could support sentiment in the near term.
In Pakistan, HDPE prices were largely stable, with film assessed at USD 920-960/mt CFR, blow moulding at USD 930-970/mt CFR, yarn at USD 930-970/mt CFR, and injection at USD 920-960/mt CFR. The market continued to grapple with muted demand as floods and heavy rainfall curtailed downstream activity. Offers included USD 920/mt from a Middle Eastern producer and USD 960/mt from a Saudi producer.
Sri Lanka’s HDPE market remained flat, with film and blow moulding at USD 940-980/mt CFR, injection at USD 950-970/mt CFR, and yarn at USD 960-980/mt CFR. Weak end-user demand and cautious buying weighed on sentiment despite stable prices.
Bangladesh also saw steady pricing, with film at USD 930-960/mt CFR, blow moulding at USD 920-950/mt CFR, injection at USD 920-950/mt CFR, and yarn at USD 920-950/mt CFR. Purchasing activity was subdued as buyers delayed procurement amid economic uncertainties and sluggish industrial performance.
Feedstock markets also softened, with ethylene prices down sharply. CFR North East Asia levels dropped USD (-35/mt) to USD 805-815/mt, while CFR South East Asia fell USD (-30/mt) to USD 805-815/mt.
On the production front, Yulong Petrochemical ramped up two new HDPE units in Longkou, Yantai City, to full capacity in mid-September 2025, with capacities of 450,000 mt/year and 300,000 mt/year. Meanwhile, Guangxi Petrochemical Company is expected to shut its 300,000 mt/year HDPE unit around October 18, 2025, for maintenance, though details remain unconfirmed.
Overall, Asian HDPE markets remained under pressure from weakening crude oil, increased regional supply, and subdued downstream demand, leaving sentiment cautious across major markets.
