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MonthlySSESSMENTS: April SEA PE Prices

Author: SSESSMENTS

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  • Various adjustments on local PE offers captured during April
  • Market players preferred to halt procurements amid the prolonged lockdown
  • Buying sentiment would not instantly back to normal after the lockdown lifted

Various adjustments on local PE offers were captured during April. In Thailand, local PE offers across all grades were adjusted down twice in the first half of April with a total reduction of THB1,000/ton ($31/ton). However, SSESSMENTS.COM’s data showed that on the week commencing April 20, a local producer in Thailand increased PE offers between THB250-1,000/ton ($8-31/ton) depending on the grades citing satisfactory sales in the previous week. While in Malaysia, April delivery offers for HDPE Blow Moulding, HDPE Film, and LDPE Film cargoes from a local polyolefins producer in the country decreased by MYR200/ton ($46/ton) compared to March delivery. As for the Philippines, some converters reported on receiving offers for LLDPE Film C4 from the leading polyolefins producer in the country at PHP9,000/ton ($178/ton) lower from mid-February level. However, no fresh official offers from the producer were reported as the company was only sold based on customers’ bids until the end of April.

In the import market, on the week commencing April 6, HDPE Film offers of Middle East origin to Malaysia dropped by $20-40/ton compared to the previous week. However, in the following week, the offers increased by $10-30/ton as the previous offers were considered low. While May shipment offers for Saudi LLDPE Film C4 decreased by $70/ton from April and bids were submitted at $30/ton lower from the initial offers at $700/ton on LC at sight, CIF Malaysia Main Port basis. As for US mLLDPE C6, the offers to Malaysia market stood at $720/ton on LC at sight, CIF Penang Port on the week commencing April 13. While offers for Singaporean mLLDPE C6 cargoes to the Philippines moved down by $20/ton at the beginning of April. Despite the price cut, a converter commented to SSESEMENTS.COM that the offers were too high and the producer might lose their customers if the offers remain non-competitive. Detailed information for Indonesia and Vietnam market is available in MonthlySSESSMENTS of the respective countries.

In general, PE demand in Southeast Asia region was subdued in April. Market players in the Philippines and Malaysia preferred to halt procurements and only purchased on a need basis as demand for the finished product remained sluggish due to the prolonged lockdown. The rebound in the China market did not affect market sentiment in the region. Moreover, most converters in Malaysia reported running production at 25-50% from the normal rates due to the slow demand coupled with the lack of workforce. However, the demand for HDPE Blow Moulding in Malaysia and Thailand was considered healthy in line with the strong demand for flexible packaging. On the supply side, on the week commencing April 6, limited supply was reported for Qatari PE cargoes due to the maintenance at the producer’s plant, SSESSMENTS.COM noted.

Entering May, market players opined to SSESSMENTS.COM that the outlook for PE market in Southeast Asia would remain gloomy onward as buying sentiment would not instantly back to normal even though the government decided to lift the lockdown. Moreover, low crude oil and monomer prices would keep dragging the sentiment down.

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Transactions for local PE between April 1 to April 3 on FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonPayment TermDelivery Country
MalaysiaHDPE Blow MouldingPrice ListMYR3,74087030 Days Credit TermMalaysia
MalaysiaHDPE FilmPrice ListMYR3,660-4,110851-95630 Days Credit TermMalaysia
MalaysiaHDPE FilmOffer GivenMYR3,66085130 Days Credit TermMalaysia
PhilippinesHDPE FilmOffer GivenPHP59,000-60,0001,041-1,059Cash In AdvancePhilippines
ThailandHDPE FilmOffer ReceivedTHB28,750882Cash In AdvanceThailand
ThailandHDPE FilmOffer GivenTHB28,500-29,000875-890Cash In AdvanceThailand
MalaysiaLDPE FilmPrice ListMYR4,270-4,370993-1,01630 Days Credit TermMalaysia
MalaysiaLDPE FilmOffer GivenMYR4,270-4,370993-1,01630 Days Credit TermMalaysia
ThailandLDPE FilmOffer ReceivedTHB33,7501,036Cash In AdvanceThailand
ThailandLDPE FilmOffer GivenTHB34,0001,043Cash In AdvanceThailand
MalaysiaLLDPE Film C4Offer GivenMYR3,62084230 Days Credit TermMalaysia
MalaysiaLLDPE Film C4Offer ReceivedMYR3,52081930 Days Credit TermMalaysia
MalaysiaLLDPE Film C4Price ListMYR3,62084230 Days Credit TermMalaysia
PhilippinesLLDPE Film C4Offer ReceivedPHP50,000882Cash In AdvancePhilippines
ThailandLLDPE Film C4Offer ReceivedTHB28,750882Cash In AdvanceThailand
ThailandLLDPE Film C4Offer GivenTHB29,000890Cash In AdvanceThailand

Transactions for import PE between April 1 to April 3 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Middle EastHDPE FilmSold790-800Southeast Asia
Middle EastHDPE FilmOffer Received770Thailand
Middle EastHDPE FilmOffer Received740Philippines
Southeast AsiaHDPE FilmOffer Given730Thailand
Middle EastLLDPE Film C4Offer Received800Myanmar
Middle EastLLDPE Film C4Sold790-800Southeast Asia
Middle EastLLDPE Film C4Offer Received780Thailand
North AmericamLLDPE C6Offer Received1,020Philippines

Transactions for local/localized PE between April 6 to April 10 on cash FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonPayment TermDelivery Country
MalaysiaHDPE Blow MouldingPrice ListMYR3,74086130 Days Credit TermMalaysia
MalaysiaHDPE FilmPrice ListMYR3,660-4,110842-94630 Days Credit TermMalaysia
PhilippinesHDPE FilmOffer GivenPHP59,000-60,0001,041-1,059Cash In AdvancePhilippines
Middle EastHDPE FilmSoldTHB27,500844Cash In AdvanceThailand
ThailandHDPE FilmOffer GivenTHB28,250867Cash In AdvanceThailand
ThailandHDPE FilmOffer GivenTHB27,000-29,000829-894Cash In AdvanceThailand
ThailandHDPE FilmOffer ReceivedTHB28,250867Cash In AdvanceThailand
MalaysiaLDPE FilmPrice ListMYR4,270-4,370983-1,00630 Days Credit TermMalaysia
ThailandLDPE FilmOffer GivenTHB32,000-33,250987-1,020Cash In AdvanceThailand
PhilippinesLLDPE Film C4Offer ReceivedPHP50,000882Cash In AdvancePhilippines
ThailandLLDPE Film C4Offer GivenTHB27,000-29,000829-894Cash In AdvanceThailand
ThailandLLDPE Film C4Offer ReceivedTHB28,250867Cash In AdvanceThailand

Transactions for import PE between April 6 to April 10 on LC at sight, CIF/CFR Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Middle EastHDPE FilmBid Received680-690Malaysia
Middle EastHDPE FilmOffer Given730-750Malaysia
Middle EastHDPE FilmOffer Received770Thailand
Middle EastHDPE FilmOffer Received830Philippines
Middle EastLDPE FilmOffer Given880Malaysia
Middle EastLLDPE Film C4Bid Received680-690Malaysia
Middle EastLLDPE Film C4Offer Given760Malaysia
Middle EastLLDPE Film C4Offer Received780Philippines
Middle EastLLDPE Film C4Offer Received780Thailand
Middle EastLLDPE Film C4Purchased840Thailand
North AmericaLLDPE Film C4Offer Received750*Malaysia
North AmericaLLDPE Film C4Buy Idea650*-660*Malaysia
North AmericamLLDPE C6Offer Received720Malaysia
North AmericamLLDPE C6Purchased720Malaysia
North AmericamLLDPE C6Offer Received750Philippines
Description: *Shipped from Singapore

Transactions for local PE between April 13 to April 17 on FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonPayment TermDelivery Country
MalaysiaHDPE Blow MouldingPrice ListMYR3,74086230 Days Credit TermMalaysia
ThailandHDPE Blow MouldingOffer GivenTHB28,250867Cash In AdvanceThailand
MalaysiaHDPE FilmPrice ListMYR3,660-4,110843-94730 Days Credit TermMalaysia
PhilippinesHDPE FilmOffer GivenPHP59,000-60,0001,038-1,056Cash In AdvancePhilippines
ThailandHDPE FilmOffer GivenTHB27,500-28,250844-867Cash In AdvanceThailand
ThailandHDPE FilmSell IdeaTHB28,500875Cash In AdvanceThailand
MalaysiaLDPE FilmOffer ReceivedMYR4,3401,00930 Days Credit TermMalaysia
MalaysiaLDPE FilmPurchasedMYR4,3401,00930 Days Credit TermMalaysia
ThailandLDPE FilmOffer GivenTHB32,500-33,000997-1,013Cash In AdvanceThailand
MalaysiaLLDPE Film C4Offer ReceivedMYR3,18074030 Days Credit TermMalaysia
MalaysiaLLDPE Film C4PurchasedMYR3,18074030 Days Credit TermMalaysia
PhilippinesLLDPE Film C4Offer ReceivedPHP50,000880Cash In AdvancePhilippines
ThailandLLDPE Film C4Offer GivenTHB27,500-28,250844-867Cash In AdvanceThailand
ThailandLLDPE Film C4Sell IdeaTHB28,500875Cash In AdvanceThailand

Transactions for import PE between April 13 to April 17 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Middle EastHDPE Blow MouldingOffer Given850*-870*Malaysia
Middle EastHDPE FilmOffer Given760*Malaysia
Southeast AsiaHDPE FilmOffer Received760Philippines
Southeast AsiaHDPE FilmOffer Given800Philippines
Middle EastLDPE FilmOffer Given870*-880*Malaysia
Southeast AsiaLDPE FilmOffer Given940Philippines
Middle EastLLDPE Film C4Offer Given740*Malaysia
Middle EastLLDPE Film C4Bid Received700*-720*Malaysia
Middle EastLLDPE Film C4Offer Received700Malaysia
North AmericaLLDPE Film C4Bid Given680Malaysia
North AmericaLLDPE Film C4Bid Received680Malaysia
Southeast AsiaLLDPE Film C4Offer Given790Philippines
North AmericamLLDPE C6Offer Received1,000Philippines
Description: *May shipment offers

Transactions for local/localized PE between April 20 to April 24 on FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonPayment TermDelivery Country
ThailandHDPE Blow MouldingOffer GivenTHB28,750882Cash In AdvanceThailand
MalaysiaHDPE FilmOffer GivenMYR3,400-3,660791-85130 Days Credit TermMalaysia
PhilippinesHDPE FilmOffer GivenPHP59,000-60,0001,037-1,055Cash In AdvancePhilippines
ThailandHDPE FilmOffer GivenTHB28,000-28,750859-882Cash In AdvanceThailand
ThailandHDPE FilmOffer ReceivedTHB28,500875Cash In AdvanceThailand
MalaysiaLDPE FilmOffer GivenMYR4,100-4,270953-99330 Days Credit TermMalaysia
MalaysiaLDPE FilmOffer ReceivedTHB32,000982Cash In AdvanceThailand
ThailandLDPE FilmOffer GivenTHB33,000-34,0001,013-1,043Cash In AdvanceThailand
ThailandLDPE FilmOffer ReceivedTHB33,5001,028Cash In AdvanceThailand
MalaysiaLLDPE Film C4Offer GivenMYR3,400-3,620791-84230 Days Credit TermMalaysia
MalaysiaLLDPE Film C4Offer ReceivedMYR3,18074030 Days Credit TermMalaysia
PhilippinesLLDPE Film C4Offer ReceivedPHP50,000879Cash In AdvancePhilippines
ThailandLLDPE Film C4Offer GivenTHB28,000-28,750859-882Cash In AdvanceThailand
ThailandLLDPE Film C4Offer ReceivedTHB28,500875Cash In AdvanceThailand

Transactions for import PE between April 20 to April 24 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Middle EastHDPE Blow MouldingOffer Given850-880Malaysia
Middle EastHDPE FilmOffer Given760Malaysia
Middle EastHDPE FilmBid Received680-700Malaysia
Southeast AsiaHDPE FilmOffer Given750Southeast Asia
Middle EastLDPE FilmPurchased810Malaysia
Middle EastLDPE FilmOffer Given880Malaysia
Middle EastLDPE FilmBid Received800Malaysia
Southeast AsiaLDPE FilmOffer Given830-900Southeast Asia
Middle EastLLDPE Film C4Bid Given700Malaysia
Middle EastLLDPE Film C4Offer Received730Malaysia
Middle EastLLDPE Film C4Bid Received650-670Malaysia
Middle EastLLDPE Film C4Offer Given750Malaysia
Middle EastLLDPE Film C4Sold690Malaysia
Middle EastLLDPE Film C4Bid Received650-660Singapore
Middle EastLLDPE Film C4Offer Given750Singapore
Southeast AsiaLLDPE Film C4Offer Given720-750Southeast Asia

Transactions for local/localized PE between April 27 to April 30 on FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)

OriginProductTransaction TypeCurrencyOffers/tonEquivalent in USD/tonPayment TermDelivery Country
MalaysiaHDPE Blow MouldingPrice ListMYR3,48080030 Days Credit TermMalaysia
ThailandHDPE Blow MouldingOffer GivenTHB28,75088230 Days Credit TermThailand
MalaysiaHDPE FilmPrice ListMYR3,400-4,110781-94430 Days Credit TermMalaysia
PhilippinesHDPE FilmOffer GivenPHP59,000-60,0001,043-1,060Cash In AdvancePhilippines
ThailandHDPE FilmOffer GivenTHB28,75088230 Days Credit TermThailand
ThailandHDPE FilmOffer GivenTHB28,250-28,500871-879Cash In AdvanceThailand
ThailandHDPE FilmSoldTHB27,000832Cash In AdvanceThailand
MalaysiaLDPE FilmPrice ListMYR4,010-4,150922-95430 Days Credit TermMalaysia
MalaysiaLDPE FilmOffer GivenMYR4,010-4,070931-94430 Days Credit TermMalaysia
ThailandLDPE FilmOffer GivenTHB34,0001,04830 Days Credit TermThailand
ThailandLDPE FilmOffer GivenTHB32,000987Cash In AdvanceThailand
ThailandLDPE FilmOffer ReceivedTHB33,5001,033Cash In AdvanceThailand
MalaysiaLLDPE Film C4Offer ReceivedMYR2,890-3,100671-71930 Days Credit TermMalaysia
MalaysiaLLDPE Film C4PurchasedMYR2,89067130 Days Credit TermMalaysia
PhilippinesLLDPE Film C4Offer GivenPHP50,000884Cash In AdvancePhilippines
ThailandLLDPE Film C4Offer ReceivedTHB28,500879Cash In AdvanceThailand
ThailandLLDPE Film C4Offer GivenTHB28,75088230 Days Credit TermThailand
ThailandLLDPE Film C4SoldTHB27,000832Cash In AdvanceThailand

Transaction for import PE between April 27 to April 30 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Middle EastHDPE Blow MouldingOffer Given850-870Malaysia
Middle EastHDPE FilmOffer Given730-740Malaysia
Middle EastHDPE FilmOffer Given720-730Southeast Asia
Middle EastHDPE FilmOffer Received750Thailand
Southeast AsiaHDPE FilmOffer Received740Philippines
Middle EastHDPE FilmSold730-740Malaysia
Middle EastHDPE FilmSold720-730Southeast Asia
Middle EastLDPE FilmOffer Given820-840Malaysia
Middle EastLDPE FilmSold820Malaysia
Southeast AsiaLDPE FilmOffer Received870Thailand
Middle EastLLDPE Film C4Offer Given730-740Malaysia
Middle EastLLDPE Film C4Offer Given700-710Southeast Asia
Middle EastLLDPE Film C4Offer Received850Philippines
Middle EastLLDPE Film C4Offer Received820Thailand
Middle EastLLDPE Film C4Sold700-710Southeast Asia

Tags: Asia Pacific,English,Monthly,PE,SEA

Published on May 6, 2020 1:20 PM (GMT+8)
Last Updated on May 6, 2020 1:20 PM (GMT+8)

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