Spot prices of polyethylene pipe (HDPE) in China continued to decline, according to ICIS referring to the market participants.

Prices of HDPE pipe showing a decrease in the domestic market in China over the past few weeks against the backdrop of the downward pressure from the prices of the imported material.

Besides the local market there is a decrease in the polyethylene prices in general, it also enhances the “bearish” sentiment on the market.

Approval of transactions slowed down as all expect to initiate the June transactions from Middle Eastern producers, which, according to the expectations of market players who will start next week.

Transactions for May delivery Black HDPE 100 mainly consisted on USD1280-1340 level per tonne, CFR China. According to customers and certain producers, HDPE prices could fall on the background of downward market sentiment.

According to the price review ICIS-MRC, the situation with the demand in the Russian market of polyethylene remains unchanged from the end of April. On PND market remains oversupplied and low demand. At the end of this week, it recorded a slight decline in prices that largely due to the reduction in the cost of logistics.
At the beginning of May in the south of proposals for the supply of blown film and PE Uzbek producers are at the level of 105000-106000 rubles. per ton, including VAT, FCA. Cast Uzbek IPA offered at 102,000 rubles. per tonne, FCA Orenburg, and 105,000 rubles. per ton, including VAT, FCA Bataisk.