POLYMERS - HDPE

Lackluster markets kept HDPE prices in Asia stagnant at US$1660/MT in the week of February 25, 2008. Restrained demand from China kept market activities very lean in Asia, keeping HDPE prices at sluggish levels. Awaiting firm offers from key suppliers for March, some traders have proposed H1-March shipment at US$1670/MT levels. However, most buyers preferred to wait and watch as buying interest hovered around lows of US$1640/MT CFR CMP with usance terms. Prices are estimated to dip in the next few weeks as deep sea cargoes from USA for H1-April delivery were being offered at US$1600/MT CFR China.