Commodity Resin Prices Surging

May 02, 1997 02:00 AM

Apr. 7, 1997 International prices for the big four commodity resins ldPE, hdPE, PP and PS are surging in overseas markets, notably in Southeast Asia and Europe. Behind the climb are rising prices for raw materials naphtha, ethylene and propylene coupled with brisk demand. In Southeast Asia alone, in one month the price of ldPE jumped $ 40 /t to over $ 1,000/t.
Following a slowdown in early 1997, commodity resin demand in Southeast Asia soon recovered to the previously high levels marked in the second half of 1996. Prices have been climbing since.
March ldPE shipment prices rose $ 40/t to $ 970-990/t, hdPE increased $ 10-20 ($ 860-880), and PP gained $ 30-40 ($ 820-870) from the previous month's levels. The price of PS, which bottomed last November, rebounded to $ 750/t in February (CIF Hong Kong) and is now closer to $ 800/t.
In Japan, although a third polyolefin price hike has just taken hold, the rise in overseas market prices is creating pressure for further adjustments in domestic prices. The world price of feedstock naphtha has risen to $ 230-235/t, and the weaker yen is elevating raw material costs even higher for Japanese producers.

Source: not available
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