HDPE prices slipped across parts of Asia this week while holding steady elsewhere. Crude oil kept climbing on the back of Russia-Ukraine tensions and the threat of new U.S. sanctions that could rattle supply chains. China’s polyethylene imports stayed firm but faced stiff competition from cheaper U.S. cargoes, even as Middle Eastern suppliers nudged prices higher on tighter availability. Traders expect more arrivals in the coming weeks, adding pressure to dollar-denominated offers. Ahead of China’s National Holidays, buyers across China and Southeast Asia stepped back, dampening trading volumes. In India, a weak rupee, ample domestic supply, and muted downstream demand left the market quiet despite producers rolling out promotions. Bangladesh saw prices fall on lower import offers, while Sri Lanka’s market remained flat as economic worries kept buyers cautious.
LDPE drifted lower in South Asia under the same upward oil backdrop. Middle Eastern suppliers held firm on limited inventories, but competitive U.S. shipments capped prices. Buyers across China and Southeast Asia largely stayed on the sidelines, waiting for clearer signals. India’s market was subdued by weak demand and a soft rupee, while Pakistan’s outlook dimmed after flooding damaged crops and cut packaging needs. Sri Lanka and Bangladesh reported similarly sluggish activity as buyers awaited fresher offers.
LLDPE followed suit, easing across Asia. China faced pressure from U.S. cargoes even as Middle Eastern supply tightened. Buyers paused ahead of national holidays, leaving most deals at the low end of price ranges. Southeast Asia saw early October offers but little appetite to buy. India stayed quiet as traders cleared stocks before Diwali, though Middle Eastern plant closures in October may tighten supply. Pakistan hopes for a slight post-monsoon rebound, but flooding weighed on sentiment. Sri Lanka and Bangladesh remained muted.
Polypropylene prices slipped too. Chinese buyers delayed purchases ahead of the holidays, and U.S. exports undercut regional spot levels. India’s market mirrored the trend with low demand and steady domestic supply, despite minor FMCG orders and expected Middle Eastern shutdowns.
Polystyrene weakened as suppliers cut prices to move inventory. China’s domestic demand held steady but oversupply pushed producers to seek export sales. Southeast Asia faced the same glut, with buyers resisting even discounted quotes. India saw little interest amid a soft rupee and plentiful cheaper substitutes, despite domestic producers offering price protection schemes.
ABS managed to hold steady. A fall in styrene feedstock prices failed to translate into lower ABS offers as manufacturers faced persistently weak demand but sensed a hint of recovery in end-user interest. Butadiene fell, acrylonitrile stayed flat, and styrene eased week on week.
PVC prices stayed unchanged. Asian producers kept October quotes level with September, supported by ample inventories and balanced supply. China’s spot market was quiet heading into the holidays, while Pakistan’s demand remained weak after heavy rains. India extended the compliance deadline for key PVC feedstocks, offering relief to producers. Southeast Asia reported stable but subdued trade.
PET edged down in parts of Asia as lower upstream costs and thin buying forced sellers to cut offers. Chinese polyester markets slowed further, with buyers replenishing only when necessary. Lower monoethylene glycol prices squeezed margins and spurred discounts across China and Southeast Asia. Bottle-grade demand stayed soft as buyers waited for firmer signals.
Across the region, plastics markets are treading water, caught between rising crude, competitive U.S. exports, and a seasonal pause in industrial activity.
