Transactions for import HDPE Film between March 23 to March 27 on LC at sight/TT, CIF China Main Port basis
Description: *Offers for April shipment **Offers for April shipment from a Thai PE producer- Central Asia origin $760-790/ton
- Far East Asia origin $720-750/ton
- Middle East origin $720-770/ton
Comments by market players on HDPE Film as follows:
“As of Monday morning, March 23, we have agreed to roll over offers for local HDPE Film cargoes from last Friday’s level. The latest offers are available at CNY7,100/ton ($1,000/ton) on cash, EXW China basis and including 13% VAT,” a local trader in China revealed to SSESSMENTS.COM.
“On Thursday, March 26, local HDPE Film offers in the spot market plunged between CNY100-150/ton ($14-21/ton) from a day earlier in line with the downward movement in the futures market. As of March 26, the lowest trading price for LLDPE on Dalian Commodity Exchange captured at CNY5,790/ton ($816/ton), or CNY330/ton ($42/ton) lower than the settlement recorded a day earlier,” one of Shanghai-based traders mentioned.
“From the import market, a Qatari PE producer has announced April shipment offers to China market this week. As compared to March shipment, the producer applied a hefty reduction of $65/ton for HDPE Film cargoes, available at $770/ton on LC at sight, CIF China Main Port basis. We decided to purchase some volume at the initial offer level,” another Chinese trader reported.
“We have resumed offering HDPE Film cargoes to China market, but the allocation is limited. The current offers stand at $870/ton on LC at sight, CIF China Main Port basis,” a source from a Thai PE producer reported to SSESSMENTS.COM.
“For Saudi origin, we received April shipment offers from a producer at $730/ton on LC at sight, CIF China Main port basis, or $90/ton lower than offers for March shipment,” a Ningbo-based trader reported.
“In line with the downtrend in formula prices, an Iranian supplier decided to slash offers for Iranian HDPE Film cargoes from last week. The latest offers from the supplier are available between $760-790/ton on TT, CIF China Main Port basis, or $40/ton lower than the offer level recorded a week earlier. Despite the reduction, most customers are not keen to place orders on the back of slow demand for the end products, coupled with a continuous decline in PE prices,” a Shanghai-based trader explained.
“As of Friday morning, March 27, the inventory level of the two leading Chinese polyolefins producers accumulated to 1.125 million tons, a reduction of 155,000 tons as compared to Monday’s level,” market sources in China reported to SSESSMENTS.COM.
Tags: Asia Pacific,China,English,NEA,News,PE
Published on March 30, 2020 2:21 PM (GMT+8)Last Updated on March 30, 2020 2:21 PM (GMT+8)
