monthlyssessments-march-china-pe-prices

In March, local and localized PE offers in China were mostly in a downtrend. The month started with stable to slight increase of CNY50-150/ton ($7-21/ton) for local and localized HDPE Film, LDPE Film and LLDPE Film C4 offers. However, due to the drop in crude oil prices and softer futures price, the offers continued to decline in the following weeks. In March, offers for local HDPE Film declined with a total reduction of CNY350/ton ($/49ton), while HDPE Yarn decreased between CNY500-600/ton ($70-84/ton). As for local LDPE Film and LLDPE Film C4, the offers declined between CNY600-800/ton ($84-113/ton) and between CNY1,250-1,300/ton ($176-183/ton) in the same month. As such, in the last week of March, offers for LLDPE Film C4 have broken below CNY6,000-threshold, offered at CNY5,850-5,950/ton ($824-838/ton) on cash, EXW China basis and including 13% VAT.

In the import market, offers for Middle Eastern HDPE Film dropped between $30-65/ton on a monthly comparison. Likewise, offers for Middle Eastern LDPE Film and LLDPE Film C4 decreased between $30-60/ton compared to the same period. On the week commencing March 23, buyers’ bids for South Korean LLDPE Film C4 via trader at $50/ton lower than the initial offers at $700/ton on LC at sight, CIF China Main Port basis were rejected. In contrast, a Saudi producer eventually accepted buyers’ bids and closed deals at $750/ton on the same payment and delivery term or $50/ton lower than the initial offer level considering the muted market. While on March 27, a local trader managed to conclude Indonesian LLDPE Film C4 at $670/ton, the lowest deals recorded in March. As for import PE cargoes of Thai origin, SSESSMENTS.COM noted significant adjustments for May shipment offers between $45-75/ton compared to April shipment for HDPE Film, LDPE Film, and LLDPE Film C4.

Overall PE resins demand in China was sluggish during March. The lack of workforce was still an issue for the first half of March. Moreover, the plunge in crude oil prices and Coronavirus outbreak outside China have dampened buying sentiment in the PE market as the digestion rates of finished product demand were slow. As such, most converters are still procuring on a hand-to-mouth basis even though their production rate continues to improve. However, in the first week of March, demand for HDPE Pipe and HDPE Blow Moulding was reported healthy, SSESSMENTS.COM was told. On the supply side, in the first week of March, the inventory of the country’s two leading polyolefins producers decreased by 150,000 tons, while in the second week, the inventory decreased by 35,000 tons. Likewise, in the third week of March, the inventory was reduced by 55,000 tons, while in the following week, a reduction of 30,000 tons was recorded. As of March 31, the inventory of the country’s two leading polyolefins failed to break below 1 million tons despite there were decreases earlier. The inventory on the last day of March stood at 1.175 million tons.

Looking ahead, Chinese market players opined to SSESSMENTS.COM that the possibilities for PE prices to rebound remain slim in the near term. While the PE market will depend on how other countries control the Coronavirus outbreak.

Range of local/localized PE offers between March 2 to March 6 on cash, EXW China basis (including 13% VAT in CNY term, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Offers (CNY/ton)	Equivalent in USD/ton
China	HDPE Blow Moulding	Offer Given	6,900	861
China	HDPE Blow Moulding	Offer Received	7,500	936
China	HDPE Blow Moulding	Price List	7,100-7,200	886-898
China	HDPE Film	Offer Given	7,000-7,400	874-923
China	HDPE Film	Price List	7,250	905
Iran	HDPE Film	Sold	7,130	890
Malaysia	HDPE Film	Offer Given	7,100	886
Middle East	HDPE Film	Offer Given	7,450-7,550	930-942
Russia	HDPE Film	Offer Given	6,950	867
China	HDPE Pipe (PE 100)	Offer Given	7,600	948
China	HDPE Pipe (PE 100)	Price List	7,600-7,800	948-973
China	HDPE Yarn	Price List	7,000-7,300	874-911
China	LDPE Film	Offer Given	7,400-7,800	923-973
China	LDPE Film	Price List	7,700-8,200	961-1,023
Malaysia	LDPE Film	Offer Given	7,600-7,700	948-961
Middle East	LDPE Film	Offer Given	7,700-7,900	961-986
China	LLDPE Film C4	Offer Given	6,800-7,200	849-898
China	LLDPE Film C4	Price List	7,150-7,300	892-911
Middle East	LLDPE Film C4	Offer Given	7,150-7,300	892-911

Range of import PE offers between March 2 to March 6 on LC at sight, CIF China Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Payment Term
Central Asia	HDPE Blow Moulding	Offer Received	800-810	TT
Middle East	HDPE Blow Moulding	Offer Given	820-845	LC at sight
Southeast Asia	HDPE Blow Moulding	Purchased	810-820	LC at sight
Central Asia	HDPE Film	Offer Received	800-830	TT
Far East Asia	HDPE Film	Offer Given	840-845	LC at sight
Middle East	HDPE Film	Offer Given	840-865	LC at sight
Middle East	HDPE Film	Offer Received	850	LC at sight
Middle East	HDPE Film	Sold	850	LC at sight
North America	HDPE Film	Offer Received	810	LC at sight
Southeast Asia	HDPE Film	Purchased	830	LC at sight
Southeast Asia	HDPE Film	Offer Received	830	LC at sight
Central Asia	LDPE Film	Offer Received	850-860	TT
Middle East	LDPE Film	Offer Given	875-900	LC at sight
Central Asia	LLDPE Film C4	Offer Received	800-810	TT
Indian Subcontinent	LLDPE Film C4	Offer Received	790	LC at sight
Middle East	LLDPE Film C4	Offer Given	810-850	LC at sight
Middle East	LLDPE Film C4	Offer Received	810-850	LC at sight
Middle East	LLDPE Film C4	Sell Idea	830	LC at sight
Middle East	LLDPE Film C4	Sold	830	LC at sight
Southeast Asia	mLLDPE C6	Offer Received	1,055	LC at sight

Range of local/localized PE offers between March 9 to March 13 on cash, EXW China basis (including 13% VAT in CNY term, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Offers (CNY/ton)	Equivalent in USD/ton
China	HDPE Blow Moulding	Offer Given	7,100-7,200	886-898
China	HDPE Blow Moulding	Price List	7,200	898
China	HDPE Film	Offer Given	7,150-7,250	892-905
China	HDPE Film	Price List	7,250	905
Saudi	HDPE Film	Offer Given	7,100	886
Taiwan	HDPE Film	Offer Given	7,750	967
China	HDPE Pipe (PE 100)	Price List	7,800	973
China	HDPE Yarn	Price List	7,000-7,200	874-898
China	LDPE Film	Offer Given	7,600-7,850	948-980
China	LDPE Film	Price List	7,700-8,200	961-1,023
Malaysia	LDPE Film	Offer Given	7,700	961
Qatar	LDPE Film	Offer Given	7,800-7,900	973-986
China	LLDPE Film C4	Offer Given	6,800-7,100	849-886
China	LLDPE Film C4	Sold	6,600-6,700	824-836
China	LLDPE Film C4	Price List	7,000-7,300	874-911
Indonesia	LLDPE Film C4	Offer Given	6,800	849
Malaysia	LLDPE Film C4	Offer Given	6,650-6,700	830-836
Saudi	LLDPE Film C4	Offer Given	6,900-7,350	861-917
China	LLDPE Film C4 (CTO)	Offer Given	6,650-6,750	830-842

Range of import PE offers between March 9 to March 13 on LC at sight, CIF China Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Payment Term	Delivery Term
Central Asia	HDPE Blow Moulding	Offer Received	800-810	TT	CIF
Middle East	HDPE Blow Moulding	Offer Given	820-830	LC at sight	CIF
Middle East	HDPE Blow Moulding	Offer Received	800	LC at sight	CIF
North America	HDPE Blow Moulding	Offer Received	855	LC at sight	CFR
Central Asia	HDPE Film	Offer Received	800-830	TT	CIF
Middle East	HDPE Film	Offer Given	830-850	LC at sight	CIF
Middle East	HDPE Film	Offer Received	830-850	LC at sight	CIF
Middle East	HDPE Film	Sold	830-850	LC at sight	CIF
North America	HDPE Film	Offer Given	780-800	LC at sight	CIF
North America	HDPE Film	Offer Received	890	LC at sight	CFR
North America	HDPE Film	Sold	780-800	LC at sight	CIF
Southeast Asia	HDPE Film	Sold	800	LC at sight	CIF
Thailand	HDPE Pipe (PE 100)	Offer Given	865	LC at sight	CIF
Central Asia	LDPE Film	Offer Received	850-860	TT	CIF
Middle East	LDPE Film	Offer Given	860-900	LC at sight	CIF
Middle East	LDPE Film	Offer Received	875-900	LC at sight	CIF
Middle East	LDPE Film	Sold	890-900	LC at sight	CIF
Central Asia	LLDPE Film C4	Offer Received	800-810	TT	CIF
Indian Subcontinent	LLDPE Film C4	Offer Received	800	LC at sight	CIF
Middle East	LLDPE Film C4	Offer Given	810-850	LC at sight	CIF
Middle East	LLDPE Film C4	Offer Received	820-850	LC at sight	CIF
Middle East	LLDPE Film C4	Sold	830-850	LC at sight	CIF
North America	LLDPE Film C4	Offer Received	855-870	LC at sight	CFR
North America	LLDPE Film C4	Purchased	790	LC at sight	CIF
North America	LLDPE Film C4	Sold	780-790	LC at sight	CIF
South America	LLDPE Film C4	Offer Given	790	LC at sight	CIF
South America	LLDPE Film C4	Buy Idea	740-750	LC at sight	CIF
Thailand	mLLDPE C6	Offer Received	1,050	LC at sight	CIF

Range of local/localized PE offers between March 16 to March 20 on cash, EXW China basis (including 13% VAT in CNY term, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Offers (CNY/ton)	Equivalent in USD/ton
China	HDPE Blow Moulding	Price List	7,100-7,200	886-898
Uzbekistan	HDPE Blow Moulding	Offer Given	7,000	874
China	HDPE Film	Offer Given	7,050-7,300	880-911
China	HDPE Film	Price List	7,250	905
Iran	HDPE Film	Sold	6,900-7,150	861-892
Middle East	HDPE Film	Offer Given	7,050-7,400	880-923
Saudi	HDPE Film	Offer Given	7,100	886
China	HDPE Pipe (PE 100)	Price List	7,800	973
China	HDPE Yarn	Price List	6,900-7,200	861-898
India	HDPE Yarn	Offer Given	7,100	886
China	LDPE Film	Offer Given	7,400-7,750	923-967
China	LDPE Film	Price List	7,350-7,900	917-986
Malaysia	LDPE Film	Offer Given	7,450-7,650	930-955
Middle East	LDPE Film	Offer Given	7,400-7,800	923-973
Qatar	LDPE Film	Offer Given	7,800	973
China	LLDPE Film C4	Offer Given	6,550-7,000	817-874
China	LLDPE Film C4	Price List	6,600-6,900	824-860
Malaysia	LLDPE Film C4	Offer Given	6,550-6,650	817-830
Middle East	LLDPE Film C4	Offer Given	6,550-7,000	817-874
Qatar	LLDPE Film C4	Offer Received	7,150	892
Russia	LLDPE Film C4	Offer Given	6,700	836
Saudi	LLDPE Film C4	Offer Given	6,950	867

Range of import PE offers between March 16 to March 20 on LC at sight, CIF/CFR China Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Payment Term
Central Asia	HDPE Blow Moulding	Offer Received	800-810	TT
Middle East	HDPE Blow Moulding	Offer Received	780-1,090*	LC at sight
Central Asia	HDPE Film	Offer Received	800-830	TT
Far East Asia	HDPE Film	Sold	750	LC at sight
Middle East	HDPE Film	Buy Idea	760-770	LC at sight
Middle East	HDPE Film	Offer Given	840-850	LC at sight
Middle East	HDPE Film	Offer Received	800-940*	LC at sight
Middle East	HDPE Pipe (PE 100)	Offer Received	900	LC at sight
Middle East	HDPE Pipe (PE 100)	Offer Given	870	LC at sight
Southeast Asia	HDPE Yarn	Offer Given	880	LC at sight
Central Asia	LDPE Film	Offer Received	850-860	TT
Middle East	LDPE Film	Buy Idea	800-810	LC at sight
Middle East	LDPE Film	Offer Given	870-880	LC at sight
Middle East	LDPE Film	Offer Received	885	LC at sight
Central Asia	LLDPE Film C4	Offer Received	800-810	TT
Middle East	LLDPE Film C4	Buy Idea	700	LC at sight
Middle East	LLDPE Film C4	Offer Given	820-830	LC at sight
Middle East	LLDPE Film C4	Offer Received	810-980*	LC at sight
Southeast Asia	LLDPE Film C4	Offer Received	860	LC at sight
Southeast Asia	LLDPE Film C4	Offer Given	850-860	LC at sight

Description: *Offers for high-quality materials

Range of local/localized PE offers between March 23 to March 27 on cash, EXW China basis (including 13% VAT in CNY term, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Offers (CNY/ton)	Equivalent in USD/ton
China	HDPE Blow Moulding	Offer Received	6,750	842
China	HDPE Blow Moulding	Price List	6,900-7,100	861-886
China	HDPE Film	Offer Given	7,000-7,150	874-892
China	HDPE Film	Price List	6,900-7,100	861-886
Middle East	HDPE Film	Offer Given	6,700-7,150	836-892
Saudi	HDPE Film	Offer Given	6,700	836
Thailand	HDPE Film	Offer Given	7,500	936
China	HDPE Pipe (PE 100)	Price List	7,350-7,800	917-973
China	HDPE Yarn	Price List	6,700-7,000	836-874
China	LDPE Film	Offer Given	7,200-7,400	898-923
China	LDPE Film	Price List	7,000-7,500	874-936
Malaysia	LDPE Film	Offer Given	7,100-7,550	886-942
Middle East	LDPE Film	Offer Given	6,900-7,350	861-917
Qatar	LDPE Film	Offer Given	7,450	930
China	LLDPE Film C4	Offer Given	6,450-6,600	805-824
China	LLDPE Film C4	Price List	6,350-6,700	792-836
Malaysia	LLDPE Film C4	Offer Given	6,150	767
Middle East	LLDPE Film C4	Offer Given	6,300-6,700	786-836
Russia	LLDPE Film C4	Offer Given	6,550	817
Saudi	LLDPE Film C4	Offer Given	6,750	842

Range of import PE offers between March 23 to March 27 on LC at sight, CIF China Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Payment Term
Central Asia	HDPE Blow Moulding	Offer Received	760	TT
Middle East	HDPE Blow Moulding	Offer Received	780	LC at sight
Middle East	HDPE Blow Moulding	Bid Given	760	LC at sight
Central Asia	HDPE Film	Offer Received	760-790	TT
Far East Asia	HDPE Film	Offer Received	720-750	LC at sight
Middle East	HDPE Film	Offer Given	770	LC at sight
Middle East	HDPE Film	Offer Received	720-770	LC at sight
Middle East	HDPE Film	Purchased	770	LC at sight
Middle East	HDPE Film	Sold	760	LC at sight
Southeast Asia	HDPE Film	Offer Received	740	LC at sight
Southeast Asia	HDPE Film	Offer Given	750	LC at sight
Southeast Asia	HDPE Pipe (PE 100)	Offer Received	865	LC at sight
Far East Asia	HDPE Yarn	Offer Received	770	LC at sight
Indian Subcontinent	HDPE Yarn	Offer Received	790-810	LC 90 days
Indian Subcontinent	HDPE Yarn	Offer Received	790	LC at sight
Central Asia	LDPE Film	Offer Received	850	TT
Indian Subcontinent	LDPE Film	Offer Given	820	LC at sight
Indian Subcontinent	LDPE Film	Sold	820	LC at sight
Indian Subcontinent	LDPE Film	Offer Received	850	LC at sight
Middle East	LDPE Film	Offer Received	800-860	LC at sight
Middle East	LDPE Film	Purchased	860	LC at sight
Southeast Asia	LDPE Film	Offer Given	885	LC at sight
Central Asia	LLDPE Film C4	Offer Received	750	TT
Far East Asia	LLDPE Film C4	Bid Received	700	LC at sight
Far East Asia	LLDPE Film C4	Offer Received	710-750	LC at sight
Far East Asia	LLDPE Film C4	Offer Received	740	LC 90 days
Far East Asia	LLDPE Film C4	Purchased	740	LC 90 days
Indian Subcontinent	LLDPE Film C4	Offer Given	690-700	LC at sight
Indian Subcontinent	LLDPE Film C4	Offer Received	690-700	LC at sight
Indian Subcontinent	LLDPE Film C4	Sold	690-700	LC at sight
Middle East	LLDPE Film C4	Bid Received	750	LC at sight
Middle East	LLDPE Film C4	Offer Given	750-800	LC at sight
Middle East	LLDPE Film C4	Offer Received	750	LC at sight
Middle East	LLDPE Film C4	Offer Received	800	LC at sight
Middle East	LLDPE Film C4	Offer Received	750-800	LC at sight
Middle East	LLDPE Film C4	Sold	750	LC at sight
North America	LLDPE Film C4	Offer Received	790	LC at sight
Southeast Asia	LLDPE Film C4	Bid Given	680	LC at sight
Southeast Asia	LLDPE Film C4	Buy Idea	730-740	LC at sight
Southeast Asia	LLDPE Film C4	Offer Given	770-845	LC at sight
Southeast Asia	LLDPE Film C4	Offer Received	770	LC at sight
Southeast Asia	LLDPE Film C4	Purchased	730-740	LC at sight
Southeast Asia	LLDPE Film C4	Sold	770	LC at sight

Range of local/localized PE offers between March 30 to March 31 on cash, EXW China basis (including 13% VAT in CNY term, all equivalent in USD excluding VAT)

Origin	Product	Transaction Type	Offers (CNY/ton)	Equivalent in USD/ton
China	HDPE Blow Moulding	Price List	6,700	836
China	HDPE Film	Price List	6,900	861
Iran	HDPE Film	Offer Received	6,100-6,400	761-799
Middle East	HDPE Film	Offer Given	6,400-6,500	799-811
South Korea	HDPE Film	Offer Received	6,700	836
Taiwan	HDPE Film	Offer Received	6,800	849
China	HDPE Pipe (PE 100)	Price List	7,250	905
China	HDPE Yarn	Price List	6,500-6,700	811-836
China	LDPE Film	Price List	6,900-7,000	861-874
Middle East	LDPE Film	Offer Given	6,400-6,700	799-836
Saudi	LDPE Film	Offer Received	7,000	874
Brazil	LLDPE Film C4	Offer Received	5,800	724
China	LLDPE Film C4	Sold	5,450-5,470	680-683
China	LLDPE Film C4	Offer Given	6,200-6,250	774-780
China	LLDPE Film C4	Price List	5,850-6,000	730-749
Indonesia	LLDPE Film C4	Offer Received	6,000	749
Saudi	LLDPE Film C4	Offer Received	6,300	786

Range of import PE offers between March 30 to March 31 on LC at sight, CIF China Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)
Middle East	HDPE Film	Offer Given	700-730
Middle East	HDPE Film	Purchased	730
Middle East	HDPE Film	Offer Received	720-730
Southeast Asia	HDPE Film	Offer Received	805-820
Southeast Asia	HDPE Pipe (PE 100)	Offer Received	890
Southeast Asia	HDPE Yarn	Offer Received	800
Middle East	LDPE Film	Offer Given	800-820
Southeast Asia	LDPE Film	Offer Received	820-840
Far East Asia	LLDPE Film C4	Buy Idea	620
Middle East	LLDPE Film C4	Offer Given	690-720
Middle East	LLDPE Film C4	Offer Received	720-730
North America	LLDPE Film C4	Offer Received	680
Southeast Asia	LLDPE Film C4	Offer Received	725-730
Southeast Asia	mLLDPE C6	Offer Received	1,030

MonthlySSESSMENTS: March China PE Prices

Author: SSESSMENTS

MonthlySSESSMENTS: March China PE Prices

Author: SSESSMENTS

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