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MonthlySSESSMENTS: May SEA PE Prices

Author: SSESSMENTS

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  • Local PE prices made its turning point in the third week of the month
  • Sudden shift in market direction caused panic buying
  • Latest PE price trend expected to be short-lived

Local PE prices in the Southeast Asia market successfully made a turning point in the third week of the month. On the week commencing May 4, a Malaysian polyolefins producer announced May delivery offers. SSESSMENTS.COM noted that the offers for HDPE Film, HDPE Blow Moulding, and LDPE Film decreased between MYR220-260/ton ($51-61/ton) compared to the offers for April delivery. While from traders’ end, HDPE Film prices reported lower by MYR100/ton ($23/ton) from the producer’s price list. In the following week, a Thai PE producer gave promotional prices in an attempt to boost sales. On a weekly comparison, the producer decreased the offers across all grades of PE by THB750/ton ($24/ton) with minimum purchases of 225 tons. A local trader informed that offers received from the producer decreased by THB1,000/ton ($32/ton) for HDPE Film, THB2,000/ton ($63/ton) for LDPE Film and THB750/ton ($24/ton) for LLDPE Film C4. On the week commencing May 18, the situation shifted on the back of the increases in crude oil prices as well as ethylene prices. A Thai PE producer adjusted up the offers for all grades of PE between THB1,250-1,500/ton ($40-47/ton) compared to promotional prices a week earlier. While in Malaysia, a local trader was offering HDPE Film at MYR100/ton ($23/ton) higher than the local producer’s May delivery price list. In the final week of the month, a Thai PE producer increased the offers for HDPE Film, LDPE Film, and LLDPE Film C4 by THB500/ton ($16/ton) from a week earlier on the back of supply shortage from the producer’s end. From the Philippines market, local HDPE Film and LLDPE Film C4 prices were showing limited changes throughout May. Detailed information for Indonesia and Vietnam market is available in MonthlySSESSMENTS of the respective countries.

In the import market, a significant price reduction was captured on import HDPE Film and LDPE Film prices from Malaysia to the Philippines on the week commencing May 4. On a monthly comparison, offers for HDPE Film edged down by $100/ton while LDPE Film dropped by $50/ton, with the deals concluded at $20/ton lower than the initial offer levels for both cargoes. For Saudi cargoes, during the same timeframe, import offers to the Philippines decreased by $20/ton for HDPE Film and between $30-60/ton for LLDPE Film C4. While in Thailand, the deals for HDPE Film and LLDPE Film C4 of Middle Eastern origin cargoes concluded at $40/ton and $50/ton lower than the initial offer level. In the following week, import Middle Eastern LLDPE Film C4 to Malaysia increased between $10-20/ton compared to a fortnight earlier. Likewise, import US HDPE Film to Myanmar rose between $80-90/ton compared to levels at the end of April. On the week commencing May 18, US LLDPE Film C4 cargoes available in Port Klang, Malaysia increased by $50/ton from two weeks earlier. In the final week of the month, Qatari HDPE Film to Malaysia increased by $10/ton on the high-end level of the price range available a week earlier. For LLDPE Film C4, the offers were stable to firmer by $10/ton on the low-end of the price range. In Thailand, deals for Middle Eastern HDPE Film and LLDPE Film C4 concluded at $30/ton higher than deals in April. In the Philippines, June shipment offers for LLDPE Film C4 of Saudi origin increased by $40/ton on a monthly comparison. Likewise, compared to two weeks earlier, Singaporean mLLDPE C6 increased by $30/ton, as noted by SSESSMENTS.COM.

Despite some countries eased the lockdown, demand for PE resins remained dull in May. On May 4, Malaysia put three states under Conditional Movement Control Order (CMCO) and allowed factories in these areas to run the production at maximum capacity. In the Philippines, the government has also eased the lockdown regulation and allowed factories to run up to 80% from normal capacity. However, in the third week of the month, buyers in Thailand reported to stock up some materials in anticipation of further price increases stemming from the hike of crude oil and ethylene prices. After the panic buying, Thai PE market remained muted until the end of the month, SSESSMENTS.COM was told. 

On the supply side, SSESSMENTS.COM was informed that the allocation for LLDPE Film C4 for June shipment from a Middle Eastern PE producer was limited and only for regular customers. In the production sector, Thailand’s PTT Public Company Ltd will conduct maintenance shutdown at the company’s 300,000 tons/year LDPE plant and 400,000 tons/year LLDPE plant for 20-30 days. The maintenance at both plants will likely be done upon the completion of maintenance at the producer’s 300,000 tons/year HDPE plant that started in the week commencing May 25. 

Looking into June, even though PE prices were showing an uptrend lately, Southeast Asian market players are being sceptical that it would last for a long time. Citing that the uptrend is only supported by the firm energy market and feedstock prices, without any improvement in actual demand, most players in Southeast Asia predicted that PE prices will move down in June, as stated to SSESSMENTS.COM.

Click below to view related stories and content on SEA PE:

MonthlySSESSMENTS: April SEA PE Prices

MonthlySSESSMENTS: March SEA PE Prices

WeeklySSESSMENTS: SEA PE Prices Week Starting May 25

Transactions for local/localized PE between May 1 to May 8 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 Location
MalaysiaHDPE Blow MouldingOffer ReceivedMYR3,48081230 Days Credit TermMalaysia
MalaysiaHDPE Blow MouldingBuy IdeaMYR3,30077030 Days Credit TermMalaysia
ThailandHDPE Blow MouldingOffer GivenTHB28,75091030 Days Credit TermThailand
MalaysiaHDPE FilmOffer ReceivedMYR3,30077030 Days Credit TermMalaysia
MalaysiaHDPE FilmPurchasedMYR3,30077030 Days Credit TermMalaysia
MalaysiaHDPE FilmOffer GivenMYR3,40079330 Days Credit TermMalaysia
Southeast AsiaHDPE FilmOffer GivenPHP54,000959Cash In AdvancePhilippines
PhilippinesHDPE FilmOffer ReceivedPHP50,000888Cash In AdvancePhilippines
ThailandHDPE FilmOffer GivenTHB28,75091030 Days Credit TermThailand
ThailandHDPE FilmOffer GivenTHB27,500-28,500870-902Cash In AdvanceThailand
ThailandHDPE FilmSell IdeaTHB27,500-28,000870-886Cash In AdvanceThailand
ThailandHDPE FilmOffer ReceivedTHB27,500870Cash In AdvanceThailand
MalaysiaLDPE FilmOffer GivenMYR4,00093330 Days Credit TermMalaysia
MalaysiaLDPE FilmOffer ReceivedMYR4,010-4,070935-94930 Days Credit TermMalaysia
Southeast AsiaLDPE FilmOffer GivenPHP64,0001,136Cash In AdvancePhilippines
ThailandLDPE FilmOffer GivenTHB34,0001,07630 Days Credit TermThailand
ThailandLDPE FilmOffer GivenTHB33,5001,060Cash In AdvanceThailand
ThailandLDPE FilmOffer ReceivedTHB33,2501,052Cash In AdvanceThailand
MalaysiaLLDPE Film C4Offer GivenMYR3,50081630 Days Credit TermMalaysia
Southeast AsiaLLDPE Film C4Offer GivenPHP55,000977Cash In AdvancePhilippines
PhilippinesLLDPE Film C4Offer ReceivedPHP50,000888Cash In AdvancePhilippines
ThailandLLDPE Film C4Sell IdeaTHB27,500-28,000870-886Cash In AdvanceThailand
ThailandLLDPE Film C4Offer GivenTHB28,75091030 Days Credit TermThailand
ThailandLLDPE Film C4Offer GivenTHB27,500-28,500870-902Cash In AdvanceThailand
ThailandLLDPE Film C4Offer ReceivedTHB27,250862Cash In AdvanceThailand

Transactions for import PE between May 1 to May 8 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Middle EastHDPE Blow MouldingPrice List**830Philippines
Middle EastHDPE FilmOffer Given750-770Malaysia
Middle EastHDPE FilmBid Received720Malaysia
Middle EastHDPE FilmPrice List**810Philippines
Middle EastHDPE FilmOffer Received810Philippines
Southeast AsiaHDPE FilmOffer Received750Philippines
Southeast AsiaHDPE FilmPurchased730Philippines
Middle EastHDPE FilmPurchased710Thailand
North AmericaHDPE FilmOffer Received730-740Thailand
Middle EastLDPE FilmOffer Given850Malaysia
Middle EastLDPE FilmSold850Malaysia
Middle EastLDPE FilmPrice List**870-910Philippines
Southeast AsiaLDPE FilmOffer Received850Philippines
Southeast AsiaLDPE FilmPurchased830Philippines
Middle EastLLDPE Film C4Sell Idea*750Malaysia
Middle EastLLDPE Film C4Offer Received740-750Philippines
Middle EastLLDPE Film C4Price List**740-890Philippines
Middle EastLLDPE Film C4Purchased770Thailand
North AmericamLLDPE C6Purchased720Malaysia
North AmericamLLDPE C6Purchased740Philippines
Description: *Sell idea for June shipment **Valid until May 8

Transactions for local/localized PE between May 11 to May 15 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 Location
MalaysiaHDPE Blow MouldingPrice ListMYR3,48081230 Days Credit TermMalaysia
ThailandHDPE Blow MouldingOffer ReceivedTHB26,500838Cash In AdvanceThailand
MalaysiaHDPE FilmOffer ReceivedMYR3,30077030 Days Credit TermMalaysia
MalaysiaHDPE FilmPrice ListMYR3,40079330 Days Credit TermMalaysia
MalaysiaHDPE FilmOffer GivenMYR3,40079330 Days Credit TermMalaysia
PhilippinesHDPE FilmOffer ReceivedPHP50,000888Cash In AdvancePhilippines
MalaysiaHDPE FilmOffer GivenTHB26,500838Cash In AdvanceThailand
ThailandHDPE FilmOffer GivenTHB27,000-27,500854-870Cash In AdvanceThailand
ThailandHDPE FilmOffer ReceivedTHB26,500-28,500838-902Cash In AdvanceThailand
ThailandHDPE FilmPurchasedTHB26,500838Cash In AdvanceThailand
ThailandHDPE FilmSoldTHB27,500870Cash In AdvanceThailand
MalaysiaLDPE FilmOffer GivenMYR4,00093330 Days Credit TermMalaysia
MalaysiaLDPE FilmPrice ListMYR4,050-4,150945-96830 Days Credit TermMalaysia
MalaysiaLDPE FilmOffer GivenTHB31,000-31,500981-997Cash In AdvanceThailand
ThailandLDPE FilmOffer ReceivedTHB31,250989Cash In AdvanceThailand
ThailandLDPE FilmPurchasedTHB31,250989Cash In AdvanceThailand
ThailandLDPE FilmPurchasedTHB31,25098930 Days Credit TermThailand
MalaysiaLLDPE Film C4Offer ReceivedMYR2,89067430 Days Credit TermMalaysia
MalaysiaLLDPE Film C4Offer ReceivedMYR3,10072330 Days Credit TermMalaysia
PhilippinesLLDPE Film C4Offer ReceivedPHP50,000888Cash In AdvancePhilippines
MalaysiaLLDPE Film C4Offer GivenTHB26,500838Cash In AdvanceThailand
ThailandLLDPE Film C4Offer GivenTHB27,000854Cash In AdvanceThailand
ThailandLLDPE Film C4Offer ReceivedTHB26,500838Cash In AdvanceThailand
ThailandLLDPE Film C4PurchasedTHB26,500838Cash In AdvanceThailand

Transactions for import PE between May 11 to May 15 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Southeast AsiaHDPE Blow MouldingOffer Received760Myanmar
Southeast AsiaHDPE Blow MouldingOffer Received780Philippines
Middle EastHDPE FilmOffer Given750-760Malaysia
Middle EastHDPE FilmSold745-755Malaysia
North AmericaHDPE FilmOffer Received740Myanmar
Southeast AsiaHDPE FilmOffer Received770Myanmar
North AmericaHDPE FilmOffer Received720Philippines
Southeast AsiaHDPE FilmOffer Received780Philippines
Southeast AsiaHDPE FilmPurchased740Philippines
Southeast AsiaHDPE FilmOffer Given780-790Southeast Asia
Middle EastLDPE FilmOffer Given850Malaysia
Middle EastLDPE FilmPurchased800Malaysia
Southeast AsiaLDPE FilmOffer Received880-890Myanmar
Southeast AsiaLDPE FilmOffer Received900Philippines
Southeast AsiaLDPE FilmOffer Given880-890Southeast Asia
Middle EastLLDPE Film C4Offer Given750Malaysia
Middle EastLLDPE Film C4Sold745Malaysia
Middle EastLLDPE Film C4Purchased710Malaysia
North AmericaLLDPE Film C4Purchased700Malaysia
Southeast AsiaLLDPE Film C4Offer Received780Myanmar
Southeast AsiaLLDPE Film C4Offer Given780-790Southeast Asia
Southeast AsiamLLDPE C6Offer Received920Malaysia
Southeast AsiamLLDPE C6Sell Idea970Malaysia
Southeast AsiamLLDPE C6Offer Received900Philippines

Transactions for local/localized PE between May 18 to May 22 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 Location
ThailandHDPE Blow MouldingOffer GivenTHB28,000886Cash In AdvanceThailand
MalaysiaHDPE FilmOffer GivenMYR3,40079330 Days Credit TermMalaysia
PhilippinesHDPE FilmOffer ReceivedPHP50,000888Cash In AdvancePhilippines
Southeast AsiaHDPE FilmOffer GivenPHP54,000959Cash In AdvancePhilippines
ThailandHDPE FilmOffer GivenTHB27,500-28,000870-886Cash In AdvanceThailand
ThailandHDPE FilmOffer ReceivedTHB28,000886Cash In AdvanceThailand
ThailandHDPE FilmBuy IdeaTHB27,500870Cash In AdvanceThailand
MalaysiaLDPE FilmOffer GivenMYR4,00093330 Days Credit TermMalaysia
Southeast AsiaLDPE FilmOffer GivenPHP64,0001,136Cash In AdvancePhilippines
ThailandLDPE FilmOffer GivenTHB32,5001,028Cash In AdvanceThailand
ThailandLDPE FilmOffer ReceivedTHB32,5001,028Cash In AdvanceThailand
ThailandLDPE FilmOffer ReceivedTHB31,25098930 Days Credit TermThailand
MalaysiaLLDPE Film C4Offer GivenMYR3,50081630 Days Credit TermMalaysia
PhilippinesLLDPE Film C4Offer ReceivedPHP50,000888Cash In AdvancePhilippines
Southeast AsiaLLDPE Film C4Offer GivenPHP55,000977Cash In AdvancePhilippines
ThailandLLDPE Film C4Offer GivenTHB27,500-28,000870-886Cash In AdvanceThailand
ThailandLLDPE Film C4Offer ReceivedTHB28,000886Cash In AdvanceThailand
ThailandLLDPE Film C4Buy IdeaTHB27,500870Cash In AdvanceThailand

Transactions for import PE between May 18 to May 22 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Middle EastHDPE FilmOffer Given750-770Malaysia
Middle EastLDPE FilmOffer Given850Malaysia
Middle EastLDPE FilmSold820-830Malaysia
Middle EastLDPE FilmOffer Given840Philippines
Middle EastLLDPE Film C4Offer Given750-770Malaysia
Middle EastLLDPE Film C4Offer Given750Philippines
North AmericaLLDPE Film C4Offer Received730-750Malaysia
North AmericaLLDPE Film C4Bid Given720-740Malaysia

Transactions for local/localized PE between May 25 to May 29 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 Location
MalaysiaHDPE Blow MouldingPrice ListMYR3,66085430 Days Credit TermMalaysia
MalaysiaHDPE FilmOffer GivenMYR3,58083530 Days Credit TermMalaysia
MalaysiaHDPE FilmOffer ReceivedMYR3,75087430 Days Credit TermMalaysia
MalaysiaHDPE FilmPrice ListMYR3,58083530 Days Credit TermMalaysia
PhilippinesHDPE FilmOffer ReceivedPHP50,000888Cash In AdvancePhilippines
ThailandHDPE FilmOffer GivenTHB28,000-29,500886-933Cash In AdvanceThailand
ThailandHDPE FilmOffer ReceivedTHB28,500902Cash In AdvanceThailand
ThailandHDPE FilmSoldTHB27,000854Cash In AdvanceThailand
MalaysiaLDPE FilmOffer GivenMYR4,11095930 Days Credit TermMalaysia
MalaysiaLDPE FilmPrice ListMYR4,110-4,250959-99130 Days Credit TermMalaysia
Southeast AsiaLDPE FilmOffer GivenPHP64,0001,136Cash In AdvancePhilippines
ThailandLDPE FilmOffer GivenTHB34,0001,076Cash In AdvanceThailand
ThailandLDPE FilmOffer ReceivedTHB33,0001,044Cash In AdvanceThailand
MalaysiaLDPE FilmOffer GivenTHB32,0001,013Cash In AdvanceThailand
MalaysiaLLDPE Film C4Offer GivenMYR3,50081630 Days Credit TermMalaysia
PhilippinesLLDPE Film C4Offer ReceivedPHP50,000888Cash In AdvancePhilippines
ThailandLLDPE Film C4Offer GivenTHB28,000-29,500886-933Cash In AdvanceThailand
ThailandLLDPE Film C4Offer ReceivedTHB28,500902Cash In AdvanceThailand
ThailandLLDPE Film C4SoldTHB27,000854Cash In AdvanceThailand

Transactions for import PE between May 25 to May 29 on LC at sight, CIF Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Delivery Country
Middle EastHDPE FilmOffer Given780Malaysia
Middle EastHDPE FilmBid Received760Malaysia
Middle EastHDPE FilmPurchased740Thailand
Middle EastLDPE FilmOffer Given840-850Malaysia
Middle EastLLDPE Film C4Offer Given760-770Malaysia
Middle EastLLDPE Film C4Offer Received750Malaysia
Middle EastLLDPE Film C4Purchased740Malaysia
Middle EastLLDPE Film C4Offer Received820**Philippines
Middle EastLLDPE Film C4Purchased800Thailand
Southeast AsiamLLDPE C6Offer Received900-1,040*Philippines
Description: *Offers for Singapore origin cargoes **Shipment from Malaysia/Singapore

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

Published on June 3, 2020 3:40 PM (GMT+8)
Last Updated on July 8, 2020 8:47 PM (GMT+8)

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