Prices of pipe grades of high density polyethylene (HDPE) in Europe is likely to go up in Asia on a background of the increased prices of oil, the sources told ICIS market.

According to them, the market sentiment has improved due to the recent rise in oil prices, which have stabilized in the region of USD50 per barrel.

Supply and demand for raw materials is balanced on the market, after previously accumulated stocks in the Asian region and exhausted while demand grew in China in the background of good weather conditions, supported work on the construction of the pipeline, the sources noted.

In addition, the construction of public infrastructure projects in South-East Asia also spurred demand, while higher prices in the domestic market of China helped support sales activity of imported material.

Spot prices of black HDPE 100 in the second week of October were at USD1 180-1 220 per tonne CFR China.

According to the price review ICIS-MRC, in August, imports of low pressure polyethylene in Russia rose to 17.1 ths. Tons compared to 14.1 thousand. Tons in July. The main increase in the volume of deliveries occurred in the sector under pressure casting and extrusion coating steel large diameter pipe (LDP). In general, the total volume of imports of HDPE in Russia for eight months of the year fell to 96.3 thousand. Tons compared to 123.6 thousand. Tons a year earlier.