Comments by market players on HDPE Film as follows:
“Some Middle Eastern producers have increased their offers for HDPE Film by $40-50/ton for June shipment. Although the buying sentiment is flat at present, we believe crude oil futures prices won’t move to the negative territory again and it’s more likely to remain firm which could support the PE prices,” a Shanghai-based trader told SSESSMENTS.COM.
“Traders’ bag HDPE Film of US origin is stable from last week at $755-760/ton on LC at sight, CIF China Main Port basis,” a Chinese trader reported on May 25.
“Customers are eager to buy our HDPE Film, but they are showing resistance on the price hikes with some order still in negotiations,” a Thai PE producer informed SSESSMENTS.COM.
“A Saudi producer informed their fresh offers for HDPE Film at $760/ton on LC at sight, CIF China Main Port basis, hiked by $30/ton from last week’s offers,” a Ningbo-based trader informed on May 26.
“Both traders and converters are very cautious amid ‘new normal’ with international trade friction and low appetite to consume high-priced and/or non-essential end-products. This kind of condition is seen this week with customers showing resistance towards offers at $820/ton, which up by $20/ton after riding price rally from last week,” a trader based in Shantou shared with SSESSMENTS.COM.
“A Middle Eastern producer informed that their allocations for China market have been sold out for their HDPE Film cargoes with an estimated arrival in July,” a Shanghai-based trader informed on May 27.
“Looking ahead, we think import PE prices will be stable to firm because of three factors. First, coming to the beginning of June, local producers have no inventory pressure, as such, it will support the prices. Second, import prices are supported by the high ethylene prices as well as the relatively tight supply. Third, with more businesses reopening in other countries, the allocations won’t be aggressively moved to China market,” a Chinese trader commented as quoted by SSESSMENTS.COM.
“A United Arab Emirates producer announced June shipment offers for HDPE Film at $760/ton on LC at sight, CFR China Main Port basis, increased by $60/ton from last month’s offers,” a trader based in Guangzhou informed on May 28.
“Coming to the end of May, most converters have finished replenishment activities, so the inquiries for PE are limited unless for urgent use. Coming to next month, PE market is entering the traditional low season, but we are not sure that this year the pattern will repeat itself or not, as this year is a very special year. But in the short term, import prices won’t drop sharply, supported by the higher feedstock costs,” a Beijing-based trader said to SSESSMENTS.COM.
Click below to view related stories and content on China PE Market:
NewsSSESSMENTS: Review Of China HDPE Film Market Week 20, May 11-15
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WeeklySSESSMENTS: China PE Prices Week Starting May 25
Transactions for import HDPE Film between May 25 to May 29 on LC at sight, CIF/CFR China Main Port basis
Tags: Americas,Asia Pacific,China,English,Middle East,NEA,News,PE
Published on June 1, 2020 10:40 AM (GMT+8)
