POLYMERS -HDPE

Market for film grade HDPE remained subdued in Asia in the week of March 24, 2008, stagnating prices at US$1670/MT. Lackluster sentiments from buyers in China were a result of low demand this week due to healthy levels of stockpiles. A price hike of 10-20 dollars planned by the sellers for next month has met with resistance from buyers who are currently well supplied with ample stocks. In fact, a few deals were heard concluded at less than US$1650/MT CFR China. Prices for injection as well as blow molding grade from India and South Korea witnessed a hike on account of limited arrival of deep-sea cargoes from USA.