PP and PE prices saw a 15 percent increase last year in China and the trend continues to be going upward, according to financial daily China Business News.

Ethylene price has jumped from $800 per ton last year to $1,300 per ton, CBN quoted an analyst saying. Spot prices rose 100 to 300 yuan per ton during the past week.

The China Petroleum and Chemical Industry Associated estimated that ethylene consumption will grow 13 percent in 2011.

Agricultural film maker Xinjiang Tianye Col. Ltd. said it decided to switch to toll manufacturing during the financial crisis in order to minimize the impact of resin price fluctuation. The Shanghai-listed company plans to continue to employ the model.