Transactions for import HDPE Film between June 29 to July 3, CIF China Main Port basis
- Central Asia origin $950-955/ton
- Far East Asia origin $920/ton
- Middle East origin $860-930/ton
Comments by market players on HDPE Film market as follows:
A South Korean producer informed SSESSMENTS.COM regarding the latest export offers to the China market. “We have announced the fresh offers to China market. Compared to a fortnight ago, offers for HDPE Film surfaced with an increase of $50/ton, available at $920/ton on LC at sight, CIF China main port basis. So far, buyers are showing a stiff resistance towards the offers. Hence, we are waiting for buyers to submit bids. In terms of demand, coming to the traditional low season, downstream factories cut their operating rate. Some big converters that are saddled with high raw materials prefer to sell their resins rather than the finished products.”
A Chinese trader revealed, “We have received import HDPE Film offers for July shipment from a Saudi producer. As compared to the offers for June shipment, the current offers are between $40-50/ton higher, at $850/ton on LC at sight, CIF China main port basis. Nowadays, offers from Asian producers such as South Korea, Thailand, and Malaysia are $20-30/ton higher than the offers from the Middle Eastern producers. As such, Middle Eastern cargoes are preferable. However, most buyers still prefer to source locally since offers from local producers are more attractive. Regarding the demand for the finished products, we can say that it is not recovered yet, particularly from the export market. Market talks have it that the US customers move to Southeast Asian converters as anticipation of re-escalate tension between China and the U.S.”
On July 3, a trader based in Shanghai contacted by SSESSMENTS.COM commented, “The increases in PE prices in the futures market has led to the price increases in the spot market. Offers for local and localized cargoes of Middle East, Iran, and Thailand origin increased between CNY50-150/ton ($7-21/ton) as compared to a day earlier. At the moment, localized cargoes are higher between CNY100-200/ton ($14-28/ton) compared to the local materials. The delayed shipment of Indian and Iranian cargoes cited as a supporting factor behind the upward trend. Talking about demand, the inquiries from the downstream market are not bad. Some deals were achieved at the low-end level of the price range as buyers are showing a stiff resistance towards the high offers. Before the Iranian cargoes arrive in the China market, we think PE prices will remain firm.”
A global trading house contacted by SSESSMENTS.COM on July 2 unveiled the latest offers for July shipment from an Emirati producer. “Import HDPE Film offers of United Arab Emirates origin for July shipment increased by $110/ton as compared to the offers for June shipment, available at $870/ton on LC at sight, CIF China main port basis. At the moment, the producer has sold all of the allocations. Limited supply from the producer’s end, relatively low offers as compared to offers from other origins, and buyers’ anticipation of delayed shipment of Iranian cargoes are cited as the major ground of fast digestion rate.”
“The leading Saudi polyolefins producer has announced fresh offers to the China market. As compared to last week, offers for HDPE Film edged up by $10/ton,” said another global trading house.
Tags: Asia Pacific,China,English,NEA,News,PE
Published on July 6, 2020 12:36 PM (GMT+8)Last Updated on July 6, 2020 12:36 PM (GMT+8)
