POLYMERS - HDPE

Last weeks' sudden spurt in feedstock ethylene prices has sent HDPE prices rising past US$1645/MT in Asia in the week of January 21, 2008. HDPE prices have been persistently on the rise on sharp hike in supplier offers. Offers from sellers in Taiwan, India and Thailand have been raised to levels of US$1650/MT CFR China. Awaiting quotes from producers, South Korean traders have sold cargoes of HDPE film grade up to US$1640/MT CFR China with end of January shipment terms.