POLYMERS - HDPE

HDPE prices dipped to US$1630/MT in Asia in the week of April 6, 2008, indicating a gloomy market outlook. HDPE requirement from processors in China has been cutback because of more stringent regulation in China regarding HDPE bag usage, leading to stockpiling. Robust inventories in the domestic market have kept demand from buyers in China subdued- keeping Asian HDPE markets bearish. Most offers from South Korea for April shipment slipped by twenty dollars, but buying intentions from China were pegged lower at US$1600/MT CFR.