As SSESSMENTS.COM noted, some import HDPE Film offers to the Asia market have surpassed above a thousand dollar, while some players claimed that prices far above $900/ton-level are unworkable. Particularly to the Southeast Asia market, some import offers as high as $1,050/ton-level for US HDPE Film cargoes captured in the Vietnam market. Such a high level has indeed gained a cold response from Southeast Asian buyers, especially when the China market is already on a downtrend. In fact, some traders even came to the conclusion that any offers far above $900/ton-level for HDPE Film cargoes are unworkable in Southeast Asia. As recently, most buyers expressed their buy ideas at around $870-900/ton-level for non-dutiable cargoes. Meanwhile, the current import offers for HDPE Film within the Southeast Asia market are mostly on an uptrend and available at above $900/ton-level.
As noted, offers for Thai HDPE Film to Indonesia surged by $70/ton from last month, at $990/ton. A Vietnamese trader offered Philippines HDPE Film cargoes at $950-970/ton depending on purchasing quantity. Some customers placed bids at $40/ton lower from the initial offers on the low-end of the price range but rejected by the trader. For Thai HDPE Film cargoes, the Vietnamese trader said that the offers remain high despite the notable decrease of $80/ton from last week. Via another Vietnamese trader, Saudi HDPE Film up by $20/ton, at $950/ton. Whereas from India, August shipment offers for HDPE Film remain stable at $945/ton. Both compared to last week. On July 22, Kuwaiti HDPE Film offers to Vietnam emerged with a remarkable adjustment of $100/ton from last month due to limited allocation, stood at $970/ton. At the same time, a Vietnamese trader reported that US HDPE Film offers also up by a hundred dollar and sitting at above $1,000/ton-level. Yet, the trader disregarded the offers as it eventually will meet stiff resistance from buyers. Additionally, Kuwaiti HDPE Film offers to Thailand were hiked by $90/ton from a month earlier, at $970/ton. All offers are on LC at sight, CIF Main Port basis, SSESSMENTS.COM noted.
Move to the China market, import offers as high as $1,030/ton-level for Thai HDPE Film 3355F grade also surfaced in the country on Monday (July 20). At the same time, offers for Thai HDPE Film 7000F grade are available at $980/ton. Both offers are available for late August to early September shipment. Due to weak buying sentiment, the Thai PE producer decided to cut the offers for 7000F grade by $20/ton the following day. Fortunately, the downward adjustment leaves a good impact and Chinese buyers were willing to close deals at the same level to the initial offers. Unlike Southeast Asian buyers, Chinese buyers are more open towards the current offers although there are still other buyers that show resistance, citing that most buyers are already immune with the price uptrend caused by delayed Iranian cargoes. Besides, most Chinese players expect to see ample supply following the news regarding Iranian vessels (1282) carrying PE materials have been allowed to berth at the port of Nanshan, China. As such, some sellers who currently offer to China mostly maintain stable offers or even have started to mark down their offers since they already lost its momentum to adjust up the offers, as told to SSESSMENTS.COM.
Last but not least, to the South Asia market, the offers were captured on an uptrend and some buyers remain unresponsive. On a monthly comparison, August shipment offers for Emirati HDPE Film to India market significantly increased between $70-90/ton. The offers were available at $930/ton on LC at sight, CIF Main Port basis with deals concluded at the initial offer levels. From another Middle Eastern supplier, offers for HDPE Film went up between $10-20/ton. Some players in the region commented to SSESSMENTS.COM that demand is considered sluggish as buyers keep procuring on an as-needed basis while some others are already pocketing sufficient supply.
In the days to come, Southeast Asia market players opined to SSESSMENTS.COM that PE prices will be rather hard to move further higher considering buyers’ resistance. Similarly, Chinese players also believe that PE prices will continue to drop approaching August due to demand conditions.
Import HDPE Film offers on LC at sight, CFR/CIF Main Port basis
| Date | Origin | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| 20-Jul-2020 | Middle East | Offer Given | 950-980 | China |
| 20-Jul-2020 | North America | Offer Given | 1,050 | Vietnam |
| 20-Jul-2020 | Southeast Asia | Offer Given | 980-1,030 | China |
| 21-Jul-2020 | Indian Subcontinent | Offer Received | 945 | Vietnam |
| 21-Jul-2020 | Middle East | Offer Given | 980 | China |
| 21-Jul-2020 | Middle East | Offer Received | 950 | Vietnam |
| 21-Jul-2020 | North America | Offer Received | 930 | Vietnam |
| 21-Jul-2020 | Southeast Asia | Offer Given | 960* | China |
| 21-Jul-2020 | Southeast Asia | Offer Received | 960 | China |
| 21-Jul-2020 | Southeast Asia | Sold | 960* | China |
| 21-Jul-2020 | Southeast Asia | Offer Given | 920-990 | Indonesia |
| 21-Jul-2020 | Southeast Asia | Bid Received | 910 | Vietnam |
| 21-Jul-2020 | Southeast Asia | Offer Given | 950-1,000 | Vietnam |
| 22-Jul-2020 | Far East Asia | Offer Given | 920-970 | China |
| 22-Jul-2020 | Middle East | Buy Idea | 850 | Bangladesh |
| 22-Jul-2020 | Middle East | Offer Received | 920 | China |
| 22-Jul-2020 | Middle East | Offer Received | 930 | India |
| 22-Jul-2020 | Middle East | Sold | 930 | India |
| 22-Jul-2020 | Middle East | Buy Idea | 900 | Indonesia |
| 22-Jul-2020 | Middle East | Buy Idea | 960-970 | Pakistan |
| 22-Jul-2020 | Middle East | Offer Received | 930 | Malaysia |
| 22-Jul-2020 | Middle East | Offer Received | 970 | Vietnam |
| 22-Jul-2020 | Southeast Asia | Offer Received | 910-920 | China |
| 22-Jul-2020 | Southeast Asia | Offer Given | 960-970 | Indonesia |
| 22-Jul-2020 | Southeast Asia | Sell Idea | 870-900 | Southeast Asia |
| 22-Jul-2020 | Southeast Asia | Offer Received | 940 | Vietnam |
| 23-Jul-2020 | Far East Asia | Offer Received | 980-985 | China |
| 23-Jul-2020 | Middle East | Offer Received | 950 | China |
| 23-Jul-2020 | Middle East | Offer Received | 940 | India |
| 23-Jul-2020 | Middle East | Offer Received | 970 | Thailand |
| 23-Jul-2020 | North America | Offer Received | 960 | India |
| 24-Jul-2020 | Middle East | Offer Received | 970-980 | Vietnam |
| 24-Jul-2020 | Southeast Asia | Sold | 950 | Philippines |
Description: *late August to early September shipment
Tags: Asia Pacific,English,ISC,Middle East,NEA,News,PE,SEA
Published on July 24, 2020 7:18 PM (GMT+8)
Last Updated on July 24, 2020 7:18 PM (GMT+8)
