Transactions for import HDPE Film between June 15 to June 19 on LC at sight, CIF China Main Port basis
Description: *July shipment; **Late July shipment- Middle East origin $840-870/ton
- North America origin $820-830/ton
- Southeast Asia origin $850-900/ton
Comments by market players on HDPE Film market as follows:
“We offer HDPE Film from the Middle East at $840-860/ton on LC at sight, CIF China Main Port basis. This is the latest price after the increase of $20/ton during the week of June 8-12. Currently, re-exporters are starting to sell in the market actively. It seems like the orders from converters in the export market have been improved a lot, as such, demand for HDPE Film is quite healthy,” a trader stated to SSESSMENTS.COM on June 15.
“A US-based producer has cancelled 5,000 tons of HDPE Film orders from the China market. This condition has supported the HDPE Film price in the market,” a trader informed on June 15.
“We got an offer for US origin HDPE Film at $820/ton on LC at sight, CIF basis, but buyers showing cold response towards these offers,” a Chinese trader revealed to SSESSMENTS.COM on June 16.
“We are starting to offer for South Korea origin HDPE Film at $870/ton on LC 90 days, CIF China Main Port basis, up by $50/ton compared to last month. However, buying sentiment in China is in the opposite direction with deals only can be achieved in the northern part of the country,” a local trader informed on June 17.
“We have already sold out HDPE Film allocation for July shipment at $850/ton on LC at sight, CIF China Main Port basis,” a Malaysian producer informed SSESSMENTS.COM on June 17.
“The leading Saudi polyolefins producer has announced HDPE Film offers to China at $870/ton, an increase of $10/ton as compared to last week after being triggered by limited supply for this grade in the China market. Meanwhile, a Qatari producer released the latest HDPE Film offers at $850/ton. Demand-wise, HDPE Film offers from Qatar received good responses from buyers. Supply-wise, import cargoes remain limited since mid-May when ethylene and propylene prices were hiked as well as other countries have gradually resumed their businesses following coronavirus-related lockdowns,” as told by a global trading house on June 17.
“We are receiving offers for Thailand HDPE Film cargoes at $900/ton, but we did not submit bids. Speaking of the Letter of Credit (LC) issuance, we can say that it is just the standard policy for the bank to issue longer LC for forward shipments so that the traders' credit quota is occupied, also we cannot feel that there is tightness for releasing LC facilities so far. Regarding July shipment offers, more fresh offers are expected to come out before the Dragon Boat Festival holiday which started on Thursday, June 25. For pricing outlook, July shipment offers must be increased but the gap would not be very huge compared to this week's prices, as buyers are starting to show resistance towards high prices,” as SSESSMENTS.COM quoted from a trader on June 19.
Tags: Asia Pacific,China,English,NEA,News,PE
Published on June 22, 2020 1:02 PM (GMT+8)Last Updated on June 22, 2020 1:14 PM (GMT+8)
