The spot prices of low-density polyethylene (HDPE) in India continue to grow amid limited supplies both on the domestic market and from imports, ICIS reports citing market participants.

Price proposals over the past week have been limited, as most of the deals for May were completed in previous weeks, and supply proposals for June are expected to appear later this month, sources in the market said.

Some transactions for the supply of IPA in late May or early June from the Gulf region (GCC) were concluded at the level of USD1,400 per tonne, CFR India, which is USD20-40 per ton higher than the prices of the previous week.

Importers considered prices of USD1,360-1,370 per ton, CFR India is no longer relevant after the increase in import prices in China.

Market participants expect an increase in the prices of the HDPE in June amid limited supply and rising prices in China.

On May 11, prices for film HDPE in the region were at the level of USD1,360-1,380 per tonne of CFR India, which is USD10-20 per tonne more than the previous week.

According to the Price Review of ICIS-MRC, a significant excess of supply remains in the Russian market of film-based HDPE, however, in some regions, sellers raised the prices of imported PE. In the segments of blow molded and injection molded HDPE it is quite calm, there is no excess supply. Prices remain stable from the beginning of the month. In the market of pipe PE remains a limited offer of natural HDPE, but there is no agiotage in this regard. The processors are ready to refrain from purchases until June, as the demand for PE pipes is still quite low.