Asian LDPE: Low demand- China and India see a decline in end-product
demand- Stronger dollar hinders exportsDue to low demand fundamentals, Asian recycled low-density polyethylene prices trended down over the week. Market participants
were following developments in China, which increased coronavirus restrictions
after outbreaks in several cities including Shanghai. A market source
stated that recycled trading was limited, and feedstock is particularly scarce
for high-quality, natural colored material. Sources said that prices were
affected by the decline in crude oil prices, and general bearishness on global
financial markets. The strengthening US dollar also reduced momentum in the
export market. The September ICE Brent futures contract closed at $100.50-120.50/b
at 4:30 pm Singapore time. This was down from $104.62-130.50/b. Sources
have suggested that there has been a decline in demand for plastic products
from India since...