On the IP market as the main reasons for these large jumps cited supply constraints, as well as high prices for imported homo-PP, which grew by about $ 40 / ton over the week.
Most players pay attention to the lack of imports of Middle Eastern PP on the market. One of the traders, who offer raw materials on behalf of the producer from Saudi Arabia, said: “We have no reserves, we could offer right now, and we plan to increase during the next month due to a general lack of availability of Middle Eastern origin of the material.”
In the PE market, the price of local and LDL PVP increased by about $ 140 / t, LDPE for film production – about $ 110 / t since the beginning of February.
The high cost of ethylene (a raw material for the production of PE) in Asia prompted regional producers to raise prices, to the same situation exacerbated limited PE stocks. The cost of ethylene in Asia increased by approximately $ 170 / tonne since late February.
Large manufacturers in Southeast Asia have already announced an increase in its originally announced April prices for PE in the region, pointing to the inaccessibility of the goods and the increased costs of ethylene.