POLYMERS - HDPE

Current gloomy Chinese market outlook, expected to persist in Asia has weakened HDPE prices to US$1620/MT in the week of April 14, 2008. Deals for April shipment from South Korea and SE Asia were concluded at US$1620/MT CFR China for film grades. Offers from Formosa were also lowered by 15-20 dollars CFR China to US$1660/MT levels. Restrained demand from China has however, led to deals being concluded at lower level of US$1650/MT CFR China pressed by subdued demand from Chinese buyers.