The prices of injection-molded HDPE in China’s domestic spot market fell to their lowest level in more than three years due to sufficient supplies, ICIS reports, citing market participants.
On April 26, traders ’offers in eastern China fell to CNY8 325 per ton (USD1237 per ton).
On April 26, PetroChina reduced its supply in the region by CNY200 yuan per tonne to CNY8500 per tonne.
According to ICIS, on April 25, domestic prices for injection molding HDPE in eastern China were estimated at CNY8 425 per ton (USD1252 per ton), which is CNY175 yuan per ton less than the previous day. The last time these price levels were at the end of January 2016, ICIS data showed.
According to Scan Report Company Market Report, by the end of February of this year, the estimated consumption of HDPE in Russia decreased to 78.84 thousand tons against 95.81 thousand tons a month earlier. Manufacturers have reduced production volumes, in particular, because of a stop in the second decade of February of Stavrolen. Also in February, Gazprom neftekhim Salavat stopped its facilities for several days. At the end of January-February, the estimated consumption of HDPE amounted to 174.65 thousand tons, which is only 1% more than the 2018 figure. Increased import and export volumes.