Asian Recycled PET: Prices stable despite thin market
activity■ Falling virgin LDPE prices Cooling
market sentiment■ COVID-19:
Heatwave affects Chinese demandDue to a lack of trading activity on Aug.
10, Asian recycled low-density plastic ethylene prices remained stable while
end-demand continued its decline due in part to a weaker virgin LDPE market. As the weekly price of CFR
Southeast Asia LDPE fell $110-130/mt, the virgin LDPE market suffered a sharp
decline. This was compared to $1,350-1,380/mt last week. The last time prices were lower was Nov. 18, 2020, when they
closed at $1210-1240/mt. Peasant demand
has been low as China, a major importer of PE, continues to adhere to its zero
COVID-19 strategies. Due to the ongoing
heatwave, Chinese factories have to reduce their production. Many factories have to manage their outputs, as everyone is
using air-conditioning. One source...