Date: 23 March 2020 , 19:33
News ID: 8829

China's LLDPE prices fall to lowest since 2008

Prices of linear low-density polyethylene (LLDPE) film in China have fallen close to a 12-year low on the back of weak demand amid the coronavirus pandemic.
China

Argus data showed that LLDPE film prices in China, on a midpoint basis, were at $780/t, the lowest since 28 November 2008.

Low crude oil prices are weighing on buying sentiment for polymer resins.

Polymer plants in China are increasing production to 80-90pc after weeks of reduced operations.

The coronavirus pandemic is coming under control in China, but people remain wary of resuming social activities.

Inventories at state-controlled Sinopec and PetroChina edged up to 1.285mn t on 18 March from 1.27mn t a week earlier, reflecting continued lower consumption.

By Muhamad Fadhil

source: Argus Media