OilChem: Middle East tensions drive up PE prices: LDPE leads daily gains

Geopolitical tensions in the Middle East have pushed polyethylene (PE) prices higher, with LDPE recording the largest single-day gain. As China's PE imports, which account for over 29% of its consumption, are nearly half sourced from the Middle East, supply concerns have directly translated into higher prices.

Polyethylene (PE) offers have been pushed higher as supply concerns, particularly regarding Middle Eastern cargoes, have emerged due to geopolitical risks, leading to more cautious buying sentiment. On March 2, spot USD offers for PE at Chinese ports were generally $20-60/t higher than on February 28, with Qatar-origin HDPE