Prices of imported polyethylene (PE) in China increased during the past week, but their growth was limited by competitive offers of American material, ICIS reports with reference to market participants.

According to ICIS, on May 11 prices of low-pressure polyethylene film (HDPE) at USD1,350-1,440 per tonne CFR China, which is USD30-50 per ton higher compared to May 4.

Domestic prices rose sharply in a week on the background of the season of technical repairs of factories in the second quarter.

Local distributors said that the recent price increase has increased the supply of material from foreign markets.

The prices of American film HDPE were at the level of USD1,340-1,350 per ton, CFR China, while film prices of HDPE from the Middle East and South-East Asia were in the range of USD1,370-1,440 per ton, CFR China for supplies in May and June, local distributors said.

According to the Price Review of ICIS-MRC, negotiations on May shipments of European low-pressure polyethylene for the CIS countries were conducted in the range EUR 1 020-1 100 per tonne, FCA, which is EUR 20 per ton higher than the April price level. Limitations on the May supplies from most manufacturers do not.