High density polyethylene prices slipped across several Asian markets this week, while remaining flat in others, as weak demand and holiday slowdowns kept trading subdued.
A regional source told that rising international crude prices, driven by the protracted Russia-Ukraine conflict and uncertainty over potential new U.S. sanctions, have done little to lift sentiment in the polyethylene space.
Far East Asia held steady, with HDPE film assessed at USD 850–900 per metric ton CFR and blow moulding at USD 830–890, while injection and yarn grades stayed flat at USD 830–860 and USD 880–900 respectively. Middle Eastern suppliers kept offers to China within those ranges for October shipment, but competitive U.S. cargoes and an expected increase in import arrivals kept buyers cautious. Most transactions were struck at the lower end as market participants anticipated additional downward pressure in the weeks ahead.
Southeast Asia was similarly quiet. Film grades remained at USD 880–930 CFR and blow moulding at USD 830–880, with yarn and injection grades holding steady. Buyers in China and the region stayed on the sidelines ahead of National Holidays, dampening trading volumes. Vietnam showed more volatility as Middle Eastern offers faced competition from U.S. and Northeast Asian shipments, though temporary tightness from a regional producer lent brief support.
India saw clearer declines. HDPE film slipped to USD 890–920 CFR, blow moulding to USD 880–910, yarn to USD 860–910, and injection to USD 870–930, all lower by up to USD 20 from last week. Weak downstream demand, competitive domestic pricing, and a soft rupee discouraged imports. Producers introduced incentives and bulk-buy discounts to spur sales before the Diwali season, but trading remained sluggish.
Pakistan mirrored the downtrend, with film at USD 920–960 and blow moulding at USD 930–970, each down about USD 10. Yarn and injection grades fell to USD 930–970 and USD 920–960 respectively. Sri Lanka held steady across grades despite lacklustre end-user demand and cautious purchasing. Bangladesh eased lower as reduced import offers and weak local buying pushed prices down to USD 920–960 across most grades.
Feedstock moves offered little support. Ethylene slipped USD 5 to USD 840–850 CFR Northeast Asia and stayed flat at USD 835–845 CFR Southeast Asia.
On the production side, Wanhua Petrochemical’s 350,000-ton HDPE unit in Shandong remains offline for maintenance until year-end, while Shandong New Era Polymer Materials is preparing to shut its 450,000-ton unit in the fourth quarter, with timing yet to be confirmed.
With buyers cautious, inventories comfortable, and holiday slowdowns limiting activity, the Asian HDPE market shows few signs of near-term recovery despite firm crude prices.
