HDPE, LDPE, LLDPE rise on week after staying unchanged 4 weeks
LDPE, HDPE blowmolding hit highest pricing since 2008
New York — Spot US export prices for low density polyethylene, high density polyethylene blowmolding, and linear low density polyethylene all hit new multi-year highs in the week to March 31, based on new offers from producers for April and continued tight supply, sources said.
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Register NowS&P Global Platts assessed US spot export LDPE $110/mt higher on the week at $1,940-$1,962/mt (88-89 cents/lb) FAS Houston basis, with rail car pricing discussed at or above 85 cents/lb.
The assessment is the highest LDPE pricing in over 12 years and 7 months, Platts data shows. The previous high for US LDPE was on Aug. 12, 2008, at $1,863/mt midpoint (84.5 cents/lb) FAS Houston basis.
LDPE climbed consistently since Nov. 30, 2020, when the grade was assessed at $1,091/mt, and has increased to a $1,841/mt midpoint, up $750/mt, or 68.7% since that date.
Since the beginning of 2021, the assessment rose about 46.5%, or $584 from Jan. 4 when pricing was assessed at $1,257/mt midpoint (57 cents/lb) FAS Houston.
On the year-ago date, LDPE was assessed at $948/mt (43 cents/lb) FAS Houston, and the assessment has risen about 94%, or $893/mt, since.
LDPE, LLDPE and HDPE were unchanged for four consecutive weeks due to no availability and limited inventories for producers after the winter freeze that hit the Texas region Feb. 15 knocked many PE units offline.
Producers are working to bring their units back online, but it will be a while before the export market receives inventory, sources said.
"March was dry and [I] expect very few export PE offers, if any," one source said.
In general, sources expect pricing to continue to climb short term as there are few offers for suppliers and the export market.
The market is "still extremely tight" for LDPE and LLDPE right now, one trader said.
Plants still in recovery mode
US HDPE blowmolding spot export price was assessed $210/mt higher on the week at $1,852-$1,874/mt (84-85 cents/lb) FAS Houston with railcar pricing talked at low to mid-80s cents/lb.
The price increase is due to fresh pricing indications for April and sources seeing very few spot export offers in the marketplace.
There is "no significant export volumes until May," one market participant said. "Plants [are] still in recovery mode and [there's] inconsistent startups overall."
The assessment is the highest HDPE blowmolding pricing in 12 years and 8 months, Platts data showed. The previous high for US HDPE blowmolding was on July 30, 2008, at $1,874/mt midpoint (85 cents/lb) FAS Houston basis.
HDPE blowmolding has consistently climbed since Dec. 2, 2020, when the grade was assessed at $981/mt, and has increased to a $1,863/mt midpoint, up $882, or about 90% since that date.
Since the beginning of 2021, the assessment rose about 74.3%, or $794 from Jan. 4 when pricing was assessed at $1,069/mt midpoint (48.5 cents/lb) FAS Houston.
On the year-ago date, HDPE blowmolding was assessed at $706/mt (32 cents/lb) FAS Houston, and the assessment has risen about 164%, or $1,157, since.
Separately, Platts assessed US spot export LLDPE butene $22 higher on the week at $1,676-$1,698/mt (76-77 cents/lb) FAS Houston basis, with rail car pricing discussed at 73-74 cents/lb.
The LLDPE butene assessment is the highest pricing in about 6 years and 6 months, Platts data shows.
The previous high for US LLDPE butene was Oct. 8, 2014, at $1,698/mt midpoint (77 cents/lb) FAS Houston basis.
The grade has continuously increased since Nov. 11, 2020, when the grade was assessed at $893/mt and has increased to $1,687/mt midpoint, up $794/mt, or about 89% since that date.
Since the beginning of 2021, the LLDPE butene assessment rose about 72%, or $706 from Jan. 4 when it was assessed at $981/mt midpoint (44.5 cents/lb) FAS Houston.
On the year-ago date, LLDPE butene was assessed at $706/mt (35 cents/lb) FAS Houston, and the assessment has risen about 139%, or $981/mt, since.
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US spot polyethylene prices jump to multi-year highs amid continued tight supply - S&P Global
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