High-Density Polyethylene (HDPE) Price Trend and Forecast

HDPE Regional Price Overview

Get the latest insights on price movement and trend analysis of High-Density Polyethylene (HDPE) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

 

HDPE Price Trend for the Q3 of 2024

Product	Category	Region	Price	Time Period
High-Density Polyethylene (HDPE)	Packaging	China	1145 USD/MT	July'24
High-Density Polyethylene (HDPE)	Packaging	China	1152 USD/MT	September'24
High-Density Polyethylene (HDPE)	Packaging	United Kingdom	1378 USD/MT	July'24
High-Density Polyethylene (HDPE)	Packaging	United Kingdom	1374 USD/MT	September'24

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Asia

HDPE prices showcased fluctuations during the third quarter of 2024. HDPE prices experienced a slight declining trend in July, which was followed by steady prices with range-bound fluctuations for the rest of the quarter. The prices were around 1145 USD/MT in July and went to around 1152 USD/MT in September in the Chinese market.
 

High-Density Polyethylene (HDPE) Price Chart

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HDPE prices continued to decline until mid-August, maintaining the trend from the previous quarter. The primary factors behind the decline were a weak upstream polyethylene market and a seasonal reduction in downstream demand. With limited cost support from upstream sectors, HDPE prices were adversely affected at the start of the quarter. Downstream sectors, such as agricultural films and packaging, experienced periods of low demand, which restricted market activity. Additionally, fluctuations in oil prices contributed to the weak upstream polyethylene market.

A decrease in new inquiries further dampened production enthusiasm. However, a short-term balance between supply and demand helped stabilize prices in the latter part of the quarter. Additionally, domestic demand increased during the Mid-Autumn Festival and National Day holidays, which led to a rise in upstream raw materials, supporting HDPE prices.

Europe

In Q3’24, the prices of HDPE in the European region resembled the trends of Chinese markets.  In the United Kingdom, the prices witnessed mixed trends. Initially, the trajectory was stable with very marginal fluctuations; however, in the latter part of the quarter, since the demand remained sullen, freight challenges exerted some counterforce, however, the general trend still remained weak. In the United Kingdom, the monthly average prices went from around 1378 USD/MT in July to about 1374 USD/MT in September of 2024.

North America

HDPE prices in the North American region followed a similar trend to those in the Asian markets. Prices were initially subdued but began to rise towards the end of the quarter. Improved demand from the domestic market helped maintain prices at the higher end during the latter part of the quarter. Overall, the prices remained afloat throughout the said period.

Analyst Insight

According to Procurement Resource, the prices of low-density polyethylene (HDPE) are expected to show a steady trend with marginal fluctuations in the near future. The demand is expected to pick up during the upcoming holiday season, which will expectedly raise the demand for packaging materials.
 

High-Density Polyethylene (HDPE) Price Trend for the Q2 of 2024

Product	Category	Region	Price	Time Period
High-Density Polyethylene (HDPE)	Packaging	China	1173 USD/MT	April’24
High-Density Polyethylene (HDPE)	Packaging	China	1205 USD/MT	June’24
High-Density Polyethylene (HDPE)	Packaging	India	1294 USD/MT	April’24
High-Density Polyethylene (HDPE)	Packaging	India	1288 USD/MT	June’24
High-Density Polyethylene (HDPE)	Packaging	Europe	1340 USD/MT	April ’24
High-Density Polyethylene (HDPE)	Packaging	Europe	1352 USD/MT	June’24

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Asia

High-density polyethylene’s market performance kept oscillating in the Asian markets during the second quarter of the year 2024. In China, the heightened downstream demands from various small to big manufacturing plants in plastic businesses ensured a consistent growth in HDPE prices. The monthly average prices went from about 1173 USD/MT (injection molding) in April’24 to around 1205 USD/MT in June’24. However, since the petrochemical sector, in general, was witnessing a downturn around this time, the HDPE prices also remained confined throughout the said period.

On the other hand, in the Indian markets, the downstream demands were regular. Therefore, the HDPE markets were more dependent on the feedstock crude oil prices. Going from April to May, the monthly average prices faced a swift decline since the supplies started overpowering consumer demands. However, the second half of the said quarter saw some normalization. The monthly average prices for HDPE stood at around 1294 USD/MT in April’24 in the Indian market and further went to about 1288 USD/MT in June’24.

Europe

The European HDPE industry could not behave any differently than the Asian HDPE markets. The prices were found to be wavering within very confined limits here as well. The monthly average prices in the United Kingdom’s markets went from about 1340 USD/MT in April ’24 to around 1352 USD/MT IN June’24. At the beginning of the quarter, the prices were inclined since both the supply and demand dynamics supported the market growth; however, as the crude oil prices started normalizing, the high-density polyethylene prices also saw a slight stabilization. Overall, a stable market run was witnessed in Q2’24.

North America

In the American HDPE market, the prices were surprisingly more positively inclined compared to the other global markets. Suppliers here have been more cautious and had a wait and watch approach. Therefore, the inventory pressure was already mitigated. The downstream demands from both domestic and international markets were supportive of the pricing dynamic. Major export queries came from bordering or nearby markets since the various geopolitical conflicts have limited the international trade avenues from faraway markets. Overall, a positive price-performance was observed.

Analyst Insight

According to Procurement Resource, considering the current supply and demand dynamic HDPE prices are likely to incline in the coming month. Both the feedstock industry and demand outlook suggest a positive movement of the price curve going forward.
 

High-Density Polyethylene (HDPE) Price Trend for the Q1 of 2024

Product	Category	Region	Price	Time Period
High-Density Polyethylene (HDPE)	Packaging	China	1187 USD/MT	January 2024
High-Density Polyethylene (HDPE)	Packaging	China	1175 USD/MT	March 2024
High-Density Polyethylene (HDPE)	Packaging	India	1288 USD/MT	January 2024
High-Density Polyethylene (HDPE)	Packaging	India	1305 USD/MT	March 2024
High-Density Polyethylene (HDPE)	Packaging	Europe	1206 USD/MT	January2024
High-Density Polyethylene (HDPE)	Packaging	Europe	1339 USD/MT	March 2024

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Asia

HDPE market sentiments were observed to be optimistic in the Asian market during the first quarter of the year 2024. Price trends felt tugged between different guiding factors throughout the said period. In the Chinese market, the monthly average prices went from about 1187 USD/MT (spot Injection Moulding) in January’24 to around 1175 USD/MT IN March’24.

Despite an upsurge in the crude oil prices in the region, the HDPE demands from the plastics and packaging sectors were limited. Thus, the prices wavered within such closed limits in the Chinese market. On the contrary, the Indian HDPE market followed the price trajectory of its feedstock crude oil for the majority period. In India, the said quarter saw prices going from about 1288 USD/MT (spot, Blow Moulding GP) in January to around 1305 USD/MT (Spot Blow Moulding GP) in March’24.

Europe

In the European HDPE market, a surge in prices was observed, just like in the Indian HDPE market. This growth was primarily driven by the surging crude oil prices in the region. Amidst trade and freight difficulties, the region’s oil output had also declined because of the ever-stretching war between Russia and Ukraine.

The monthly average prices in the European market went from about 1206 USD/MT (spot Injection Moulding) in January’24 to around 1339 USD/MT in March’24. This led to the European High-Density Polyethylene market incline by about 11% within the first quarter. Similarly, in the United Kingdom’s HDPE market, the (CIF, Felixstowe) went from about 1338 USD/MT (CIF, Felixstowe) to around 1422 USD/MT during the said quarter.

North America

Like the Chinese market, the American HDPE market was also more confined during the discussed time period. The rising feedstock costs did provide a positive push to the American market; however, the downstream demands were largely unsatisfying for suppliers for the majority period. So, the price trend showed both upward and downward movements occasionally, although wavering in a narrow range.

Analyst Insight

According to Procurement Resource, given the current supply and demand dynamics, not much change is projected in the global HDPE price trajectories going forward.
 

High-Density Polyethylene (HDPE) Price Trend for the October - December of 2023

Product	Category	Region	Price	Time Period
High-Density Polyethylene (HDPE)	Packaging		1236 USD/MT	October’23
High-Density Polyethylene (HDPE)	Packaging		1192 USD/MT	December’23
High-Density Polyethylene (HDPE)	Packaging	India	1248 USD/MT	October’23
High-Density Polyethylene (HDPE)	Packaging	India	1141 USD/MT	December’23

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Asia

During the final quarter of the year 2023, the HDPE prices mostly fluctuated within a narrow range. The steady decline in the feedstock ethylene and crude oil prices pushed the market trend downwards. However, a firm demand outlook balanced the High-Density Polyethylene market dynamics and kept the market afloat for a major portion of Q4’23.

The Chinese High-Density Polyethylene market saw prices averaging at around 1202 USD/MT (Spot, Injection Moulding) during the given quarter. Similarly, the Indian High-Density Polyethylene market saw the monthly average prices shifting from about 1248 USD/MT in October’23 to around 1141 USD/MT in December’23, registering a swift fall of around 8% in the market.

Europe

The European High-Density Polyethylene market also mimicked similar downward wavering price trend during the given period of Q4’23. The prices here went from about 1236 USD/MT in October to around 1192 USD/MT in December’23, registering a marginal decline of about 3% in the European High-Density Polyethylene market.

North America

The North American High-Density Polyethylene market also reflected the sluggishness in the global HDPE market. The impending holiday season pushed the market demands further down, and thus, the prices here, too, fluctuated towards the lower side of the index.

Analyst Insight

According to Procurement Resource, since the inventories are heavily flooded owing to the dull demands, the price trend will take some time to improve in the coming months.
 

High-density polyethylene (HDPE) Price Trend for the July - September of 2023

Asia

In the Asia-Pacific countries, the prices of high-density polyethylene (HDPE) took on a bearish note and fell gradually throughout the third quarter. This southward movement of the prices was the consequence of the feeble condition of the downstream industries and their sluggish demand for high-density polyethylene (HDPE). In addition to this, the sliding condition of the Asian economy's decline in the construction, packaging, and automotive industries' sales numbers resulted in the decline of high-density polyethylene (HDPE) price trend.

In China, the prices went from approximately 1279 USD/MT (Spot, Injection Molding) in July '23 to around 1239 USD/MT (Spot, Injection Molding) in September '23. In India, the HDPE prices went from 1248 USD/MT (Spot, Blow Molding) in July '23 to 1212 USD/MT (Spot, Blow Molding) in September '23 during the third quarter.

Europe

In European countries, the oscillations in the prices of high-density polyethylene (HDPE) were a result of undulation of the market statistics of the downstream industries. The sentiments of high-density polyethylene (HDPE) price trend were also adversely affected by the dip in the prices of feedstock materials and poor purchasing activities of the consumers. In addition to this, the consumer dynamics fluctuated due to the persistent economic challenges and reduction in the supply of raw materials.

North America

The North American market of high-density polyethylene (HDPE) remained under the pressure of inflation and surging rates of interest. The performance of the high-density polyethylene (HDPE) prices was also negatively affected by the limited number of offtakes from the downstream industries in both domestic and international sectors. However, during the end phase of the quarter, the surge of high-density polyethylene (HDPE) price trend was a result of a surge in the cost of feedstock materials and an improvement in trading activities.

Analyst Insight

According to Procurement Resource, the price trend of High-density polyethylene (HDPE) are expected to slow down its bearish trajectory in the upcoming months with the reduction in inflationary pressure and rising cost of raw materials.
 

High-Density Polyethylene (HDPE) Price Trend for the First Half of 2023

Asia

The price trend for High-Density Polyethylene (HDPE) were stable in the first quarter of 2023 due to the persistent demand from the construction and packaging sector. The availability of products was also low due to the shutting down of several manufacturing plants, which further supported the rise in prices. But in the second quarter, the market nosedived due to sluggish demand from the construction sector and rising inflation rates in the region. In the Chinese market, the spot price of High-Density Polyethylene (injection molding) peaked in May’23 at around 1270 USD/MT, from where it fell to around 1267 USD/MT in June’23.

However, in India, the spot prices of HDPE (blow molding) dipped significantly in mid-Q2 as they fell from approximately 1359 USD/MT in March to 972 USD/MT in May’23. However, a slight inclination was seen towards the end of the second quarter, where the prices rose to around 1252 USD/MT in June’23.

Europe

In Europe, the price trend fell in the first half of 2023 as the construction sector declined. The interest rates and cost of living also hiked with the rise in inflation. In addition, trading activities also slowed down in Europe as the economy struggled to remain afloat in the first half of 2023. In addition, the demand sector also failed to provide the required support, and high competition in the region negatively impacted the High-Density Polyethylene (HDPE) market.

North America

In the first quarter of 2023, the prices of High-Density Polyethylene (HDPE) moved upward due to limited inventory in the region. The trend was also supported by significant support from the construction sector owing to high consumer confidence. The inquiries from the foreign market also inclined, and the supply sector struggled to fulfill the rising demand. But in the second quarter, the trend declined as the packaging and construction sector reduced their order, and as a result, the stockpiles of High-Density Polyethylene (HDPE) increased. Additionally, the economic crisis, hike in inflation rates, and fluctuating market dynamics negatively impacted the HDPE price trend in North America.

Analyst Insight

According to Procurement Resource, the price of High-Density Polyethylene (HDPE) is estimated to decline in the upcoming quarter. The prices of the commodity will be majorly affected by the fluctuating demand from construction and related industries and rising global inflation rates.
 

High-Density Polyethylene (HDPE) Price Trend for the Second Half of 2022

Asia

Asian price trend for High-Density Polyethylene (HDPE) remained decelerating throughout H2 2022. Full inventories lowered feedstock prices, and sluggish demand remained the major factor for an economic slowdown. Export demands also didn’t add much to the High-Density Polyethylene (HDPE)price trend. High inflation and increased interest rates sometimes pushed the prices, but overall, the High-Density Polyethylene (HDPE) prices observed a very lazy approach.

Europe

H2 2022 started with a sliding curve for High-Density Polyethylene (HDPE) prices. Supplies and inventory stocks were overwhelming, but market and end-user demand remained bearish. High inflation and energy crisis due to Russia - Ukraine conflict affected purchasing capacities for end consumers, and packaging and plastic industries suffered. But as the Q4 approached market demand stabilized and a long time under production facilitated inventories being used up. High energy prices also hiked production costs elevating the overall prices for High-Density Polyethylene (HDPE). So H2 2022 ended with an elevation in price trend after the initial fall.

North America

In the North American market, price trend for HDPE closely mimicked those of its European counterpart. With low demand and overflowing inventories, the price trend took a hit. Production was cut as the market downsized hampering the overall growth sentiments.

Analyst insight

According to Procurement Resource, the High-Density Polyethylene (HDPE) market will likely appear to remain on the lower side in the coming months unless the market demand rebounds.
 

High-Density Polyethylene (HDPE) Price Trend For the Second Quarter of 2022

Asia

The buyers’ sluggish activity coupled with the falling prices of upstream energy and feedstocks caused the prices of the polymer to collapse in Asia. Though the inflated crude oil prices brought much-needed supply support to the market, no parallel rise in HDPE prices was seen. The muted demand from the downstream polymer industries caused the HPDE market to collapse. Prices averaged 9866.67 RMB/MT in China.

In India, HDPE prices averaged 1270-1300 USD/MT CFR. In Southeast Asia, the price for HDPE BM averaged 1170-1220 USD/MT CFR, while those of film averaged 1170-1210 USD/MT CFR in the said quarter.

Europe

In line with the Asian counterpart, the price trend of the polymer in the European markets remained on the lower side of the scale. The declining quotation of feedstock ethylene coupled with the below optimum demand from the downstream sectors caused the polyethene market to decline. Per ton price of HDPE averaged 870-960 EURO in the second quarter in Europe.

North America

Initially, the price trend for HDPE remained strong in the US due to the tightened supply and equally strong market demand. However, at the end of the quarter, decline in prices of HPDE was recorded caused by the low purchasing activity in the country and the decreased demand for the US resins in the Chinese market.

Analyst Insight

According to Procurement Resource, high-density polyethylene (HDPE) prices will decline in the coming quarter. The dampening demand from the plastic and packaging industry, aided by the falling feedstock prices, will negatively affect the pricing fundamentals of HDPE.
 

High-Density Polyethylene (HDPE) Price Trend For the First Quarter of 2022

Asia

The three primary sorts of HDPE spot market varied on March 10, 2022, with quotes in big regions largely down. In East China, the ex-factory price adjustment range for petrochemical industries was 50-400 RMB/MT. International crude oil prices had plummeted, cost-side support had been minimal, downstream entrance into the market had been eager, and market transaction was already limited. Towards the end of March, HDPE prices were roughly about 9700 RMB/MT.

Europe

In the third week of February, spot market prices for all grades of HDPE and LLDPE increased, but prices for LDPE blow moulding and film grades decreased week-on-week. The price of polypropylene homopolymer increased due to increased demand and higher raw material costs. The copolymer market showed a mixed pattern, with block copolymer prices falling week on week but random copolymer prices rising due to sustained demand.
 

High-Density Polyethylene (HDPE) Price Trend For the Fourth Quarter of 2021

Asia

The average HDPE prices for injection grade and blow moulding grade increased by 10% and 11.2% in China from quarter 3 to quarter 4. The Asian market thus witnessed a completely different market dynamics with respect to North America.

Freight costs from US and Europe were skyrocketing amid supply shortages, both of which contributed to the price rise in the region in October and November. In China, energy crisis had hit the market in October due to coal supply shortages, which caused the government to intervene and ration the coal supplies. However, not much could be achieved from the intervention, as the pandemic resurfaced in the region which impacted the imports. HDPE prices also rose in India as compared to quarter 3.

The prices for blow moulding grade rose by 15% in quarter 4 of 2021 while the injection molding grade saw a rise of 12.3%. The coal shortages in India had impacted the prices with the soaring energy costs. Manufacturers attempted to stabilise the prices in December, but were challenged by the increasing demand and low supplies, and prices continued to stay high even in December 2021.

Europe

The market in Europe saw market trend similar to those in North America, as HDPE prices fell in quarter 4 when compared with quarter 3 levels. The injection grade and blow moulding grades witnessed a 3% decline after quarter 3 in Hamburg. Demand had declined in November as the markets closed due to the holiday season. Companies like LyondellBasell and INEOS lowered their prices.

The production was impacted by the natural gas prices, and the prices were low during most of the final quarter, and only recovered by the middle of December. The production levels in major exporting countries like Netherlands and Belgium continued to remain the same. The export base were however affected as coronavirus resurfaced in the region as most of the East Asian countries reinstated lockdowns which led to a fall in the prices in the last weeks of the final quarter of 2021.

North America

Exports were diverted from Northeast Asia to Europe, as a result of supply shortages in the US during the final quarter of 2021 post the deep freeze period and to maintain the stability in the domestic market. The HDPE production however soon rebounded in October and the supplies flooded the domestic markets. The freight charges continued to increase which helped the traders as it weakened the overseas import margins.

Meanwhile the drop in demand ahead to the upcoming Christmas holidays in Europe and North America, somewhat pushed traders to sell their HDPE stocks at discounted rates. The packaging industry demands had increased but so did the number of coronavirus cases. This brought down the demands from the Asian markets and major producers like Dow and ExxonMobil reduced their prices drastically in December 2021.
 

High-Density Polyethylene (HDPE) Price Trend For First, Second and Third Quarters of 2021

Asia

In Asia, the market registered a sharp rise in HDPE prices in the second quarter of 2021, amid strong demand and low supply in the region. The demand kept swinging from high to low and prices remained fluctuating. In February and March, HDPE prices observed a rapid increase due to critical global shortage of feedstock due to the inactivity of plants in the US Gulf Coast.

In China, the EXW prices had increased by 7.28% in the first quarter, as production rates came down due to the Chinese Lunar Festival in February. Additionally, domestic plants in China were undergoing maintenance activities in March and several plants like, PetroChina Sichuan, Sinopec Yanshan, and Sinopec Maoming remained idle.

The market in Asia contrasted heavily from that in the US as demand remained low which affected the prices and caused them to dip during the second quarter of 2021. In China, the inventory levels were overflowing as buying activities from consumers remained low in this period, leading the HDPE prices to plummet.

In India, the government imposed strict measures to contain the spread of the coronavirus in the second quarter of 2021 and the demand was mostly stable in this period. The injection moulding grade was priced at 1283 USD/MT in India, while it was 1211 USD/MT in China in the fourth week of June.

HDPE observed an upward trajectory in the third quarter of 2021. Consumer demand had rebounded in the region, after the low demand outlook witnessed in the second quarter. The domestic markets faced supply shortages, as trading activities slowed down in several countries amidst the rapidly spreading Delta variant in quarter 3. In India, the pipe grade prices went from 1363 USD/MT to 1401 USD/MT in quarter 3. High freight costs also increased prices in the region, as traders and manufacturers safeguarded their margins.

Europe

As both America and Europe faced shortages, the prices in Europe soared high in the second quarter of 2021. Delayed shipments and limited supplies made it difficult for European suppliers to procure HDPE. Another reason for the price rise, were the elevating freight costs along with low container availability in the region.  The suppliers were ready to pay the premium charges for cargoes, which contributed to the price rise in the second quarter.

The market witnessed mixed sentiments in quarter 3 of 2021. HDPE prices observed a downward trend and Hamburg prices declined from 1741 USD/MT to 1637 USD/MT. Consistent demand from construction and automotive industries for downstream segments maintained a stable demand outlook for HDPE in the third quarter. High freight costs, limited supply and low container availability were other major factors which led to the price rise in the region.

North America

The weather conditions in North America impacted the productions levels of HDPE bringing them down to almost zero. Winter storms in the US gulf coast had completely disrupted the production of most plants in the area. The majority of olefins and polyolefin plants (close to 80%), remained abandoned for most of the first quarter of 2021.

The prices in this period rose by 30% and settled at 1520 USD/MT in Texas, US. Supplies started to heal by the end of the first quarter and more than half of the plants resumed their operations. However, the feedstock supply of monomers and other additives were limited, affecting the already low HDPE production levels.

In the second quarter of 2021, HDPE prices shot up in North America as a result of a huge spike of downstream demand in the packaging sector. The production levels had been low in the previous quarter, which meant low inventory levels of HDPE as demand started to rise in April and May.

Most of the deliveries had been delayed by manufacturers and major producers like Chevron, Dow and ExxonMobil raised their prices in the second quarter due to material shortage. Injection moulding grade prices were around 2155 USD/MT whereas blow moulding grade prices were 2278 USD/MT in the US in the second quarter.

During the third quarter of 2021, the domestic outlook for HDPE gained firm grounds in North America. The export spot prices observed an upward trajectory while the unresolved supply constraints continued into the third quarter. The hurricane Ida led to a surge in HDPE contracts as production was disrupted in Texas. The injection moulding grade had the spot price of 1795 USD/MT whereas the blow moulding grade was priced at 1890 USD/MT in September 2021.
 

High-Density Polyethylene (HDPE) Price Trend For the Year 2020

Asia

The demand for HDPE was consistent in 2020 while the supplies were also ample. The prices therefore remained rangebound in the Asian market. In Iran, the supply cargoes had been restricted, but were later discharged in September which added on to the market supplies.

As the markets in China reopened after the first wave of the pandemic, the production for polyethylene rebounded in the region. In Southeast Asia, however, there was negligible change in the market fundamentals for HDPE, the market remained uncertain due to the economic balance caused by the pandemic.

North America

In quarter 2, the polyethylene market was driven by strong demands from the packaging industry for food, medical and healthcare services, in the rise of coronavirus cases in North America. In the US, the supplies for polyethylene soon tightened due to delayed imports and resin shortage.

In September, the exports had reduced prominently, due to low productions owing to Hurricane Laura. The demand from sectors like automotive, agriculture and construction had improved considerably, it was still low when compared to the pre-pandemic levels.

Procurement Resource provides latest prices of High-Density Polyethylene (HDPE). Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.