POLYMERS - HDPE

Resistance from buyers in China has kept price of HDPE stagnant in Asia in the week of September 24, 2007. Buyers from Asia, particularly China, prefer to "wait and watch" in anticipation of price revision. This has led to fewer new deals in this week. However, quiet market conditions in Asia have not succeeded in lowering HDPE prices mainly because of strong demand from non-Asian countries. Slow trading of HDPE cargoes toward Latin America caused by rising freight costs as well as decreasing market demand, as also affected the market.