Market sources informed SSESSMENTS.COM that a Middle Eastern PE producer has announced new offers for this week. As reported, import offers for HDPE Film and LDPE Film moved up by $40/ton compared to a fortnight ago. While import offers for LLDPE Film C4 remain stable compared to the same period, available at $870/ton on LC at sight, CIF Main Port basis. However, the sources stated that such a level for LLDPE Film C4 is too high. Some buyers in Malaysia and Indonesia voiced out buy ideas at $30-40/ton lower than the initial offer levels.
According to the sources, due to the delay of Iranian cargoes, the Middle Eastern producer diverted more quantity to China market; as such, the allocation for the Southeast Asia market is limited or no materials at all for a certain grade. For LLDPE Film C4, the available materials are only around 100-200 tons, while LDPE Film allocation is also very limited. For HDPE Film, no materials available at the moment. Demand-wise, current finished product demand in Malaysia is still not strong yet and most converters are still running production at a reduced rate. The sources opined that even though on July 8 ethylene prices dropped between $79-81/ton on CFR North East Asia basis compared to level captured on July 1, PE prices in China will remain firm owing to Iranian cargoes issue, as stated to SSESSMENTS.COM.
Import PE offers on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Location |
|---|
| Middle East | HDPE Film | Offer Given | 930 | Indonesia |
| Middle East | HDPE Film | Offer Given | 930 | Malaysia |
| Middle East | LDPE Film | Offer Given | 940-950 | Indonesia |
| Middle East | LDPE Film | Offer Given | 940-950 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Given | 870-880 | Indonesia |
| Middle East | LLDPE Film C4 | Buy Idea | 840 | Indonesia |
| Middle East | LLDPE Film C4 | Offer Given | 870-880 | Malaysia |
| Middle East | LLDPE Film C4 | Buy Idea | 840 | Malaysia |
Tags: Asia Pacific,English,Indonesia,Malaysia,Middle East,News,PE,SEA
Published on July 9, 2020 7:49 PM (GMT+8)
Last Updated on July 9, 2020 7:49 PM (GMT+8)
