Transactions for import HDPE Film between June 8 to June 12 on LC at sight, CIF China Main Port basis
Description: *August shipment offers- Middle East origin $820-860/ton
- Southeast Asia origin $895-900/ton
- Southern America origin $820/ton
Comments by market players on HDPE Film market as follows:
“Compared to the initial offer level announced on June 1, July shipment offers for HDPE Film from a Qatari producer captured higher between $20-30/ton. Demand was quite satisfactory from Monday to Wednesday. However, following the decreases in the futures market on Thursday, the market was muted. China market is still facing difficulties as restaurants, hotels, travel industries as well as some trading sectors are still struggling to recover from the Coronavirus impact. As such, most players are very cautious before making procurements as the economy has not fully resumed yet,” a trader reported to SSESSMENTS.COM on June 11.
“Compared to a week earlier, import offers for HDPE Film cargoes from the leading Saudi polyolefins producer captured higher by $10/ton. The price quotation is not firm and there is room for negotiations. The producer revealed that sell idea for HDPE Film cargoes to China market is at $830-840/ton on LC at sight, CIF China Main Port basis, or $20-30/ton lower from the initial offer level. However, buying sentiment has softened since last week, hence, the offers are deemed unworkable and too high. Yet, the offers are less likely to move lower as monomer prices remain strong and there is no inventory pressure reported from the local producers,” Chinese market sources informed.
“We are offering import HDPE Film cargoes of Mexico origin for June shipment at $820/ton on LC at sight, CIF China Main Port basis. This week, buyers prefer the sidelines position, and buying sentiment is weak,” a trader commented.
“We received import Thai HDPE Film cargoes at $30/ton higher from last week’s level. In general, buying sentiment is weak as downstream players are very cautious in making purchases. Despite the slow market in China, import offers remain firm as supported by several factors such as gradual improvement in PE demand in other countries and higher monomer prices. Moreover, most suppliers claimed to have limited allocation as well. As such, the offers maintained firm,” a Chinese trader stated to SSESSMENTS.COM.
Tags: Asia Pacific,China,English,NEA,News,PE
Published on June 15, 2020 11:13 AM (GMT+8)Last Updated on June 15, 2020 11:13 AM (GMT+8)
