- A marketing arm of a Middle Eastern PE producer commented to SSESSMENTS.COM that the company is keeping stable offers to the Philippines market for LDPE Film and LLDPE Film C4 cargoes, available at $840/ton and $750/ton respectively, on LC at sight, CIF Manila Port. Buyers are still asking for some discount citing that their business is slowing down amid the lockdown. While for HDPE Film, no offers given as most buyers are mostly taking local cargoes. Moreover, with 10% customs duty for import HDPE Film, the offers will be uncompetitive. Demand-wise, demand for plastic packaging is only estimated at around 30% from normal at the moment. No significant changes were seen in the Philippines PE market even after the government modified the Enhanced Community Quarantine (ECQ) status for Metro Manila. Most of the source’s customers are still running below 50% from normal production. The source opined that the PE market in the Philippines will remain slow onward.
- Meanwhile, in Indonesia, a local trader informed SSESSMENTS.COM that the company received firm offers for local HDPE Film and LLDPE Film C4 from the leading Indonesian polyolefins producer’s distributor at IDR12,800,000/ton ($865/ton) and IDR11,800,000/ton ($798/ton) respectively, on 30 days credit term, FD Indonesia basis and excluding 10% VAT. However, the trader is not sure whether buyers will accept the offers or not. Deals are getting scarce ahead of the Eid Al-Fitr holiday. On the supply side, the availability of HDPE Film from the leading Indonesian polyolefins producer remains limited. In contrast, the trader stated that the producer has sufficient inventory for LLDPE Film C4 cargoes.
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| Product | Price (USD) | Terms | Changes From Previous Trading Day (USD) |
|---|
| Brent | 34.65 | July Settlement | -0.16 |
| NYMEX | 32.5 | June Settlement | 0.68 |
| Naphtha | 259 | CFR Japan | -1 |
| Ethylene | 603-609 | CFR NEA | 4 to 6 |
| Ethylene | 538-544 | CFR SEA | 4 to 6 |
| Propylene | 768-774 | CFR China | 15 |
| Propylene | 718-724 | FOB Korea | 10 |
HDPE Film, on cash/credit term, FD basis, excluding VAT (except PHP term includes 12% VAT, all equivalent in USD excludes VAT)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Indonesia | IDR | 12,800,000* | 865 |
| Singapore | IDR | 13,450,000* | 909 |
| Thailand | IDR | 12,500,000 | 845 |
| Malaysia | MYR | 3,400* | 782 |
| Philippines | PHP | 50,000 | 879 |
| Thailand | THB | 28,000 | 876 |
Description: *Offers on 30 days credit term
LDPE Film, on cash/credit term, FD basis, excluding VAT
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Thailand | IDR | 14,900,000 | 1,007 |
| Malaysia | MYR | 4,000* | 919 |
| Thailand | THB | 31,250*-32,500 | 978-1,017 |
Description: *Offers on 30 days credit term
LLDPE Film C4, on cash/credit term, FD basis, excluding VAT (except PHP term includes 12% VAT, all equivalent in USD excludes VAT)
| Origin | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Indonesia | IDR | 11,800,000* | 798 |
| Malaysia | MYR | 3,500* | 804 |
| Philippines | PHP | 50,000 | 879 |
| Thailand | THB | 28,000 | 876 |
Description: *Offers on 30 days credit term
Import on LC at sight, CIF Southeast Asia main port basis
| Origin | Product | Offers (USD/ton) |
|---|
| Far East Asia | HDPE Film | 780 |
| Middle East | HDPE Film | 740-780 |
| North America | HDPE Film | 725 |
| Southeast Asia | HDPE Film | 800-830 |
| Middle East | LDPE Film | 810-860 |
| Southeast Asia | LDPE Film | 910-940 |
| Indian Subcontinent | LLDPE Film C4 | 710-730 |
| Middle East | LLDPE Film C4 | 720-770 |
| North America | LLDPE Film C4 | 720-780 |
| Southeast Asia | LLDPE Film C4 | 820 |
Tags: Asia Pacific,Daily,English,PE,SEA
Published on May 20, 2020 11:38 AM (GMT+8)
Last Updated on May 20, 2020 11:38 AM (GMT+8)
