Transactions for import HDPE Film between July 6 to July 10, CIF China Main Port basis
Description: *Early August shipment- Middle East origin $920-980/ton
- Southeast Asia origin $960-1,015/ton
Comments by market players on HDPE Film market as follows:
“We are currently offering HDPE Film of Middle East origin at $20/ton higher from last week’s level. The increment was made as driven by the supply shortage and delayed Iranian cargoes. However, due to seasonal slowdown, most converters are holding their procurement activities and just procuring on an as-needed basis,” a Chinese trader informed SSESSMENTS.COM.
Another Chinese trader stated, “This week, import offers for PE cargoes across all grades are still captured in high-level as buoyed by the delayed Iranian cargoes. We also utilize the momentum to adjust up import HDPE Film offers of Saudi origin by $20/ton on a weekly comparison. Even when buying sentiment is dull, buyers had no choice but to accept high prices at the moment.”
A Thai PE producer contacted by SSESSMENTS.COM on July 7 revealed, “Due to tight allocation for HDPE Film and LLDPE Film C4, we decided to offer those grades to the China market at high prices. Particularly for HDPE Film, the offers are available at $1,015/ton on LC at sight, CIF Main Port basis and for early August shipment.”
“We received offers for Thai HDPE Film at $1,015/ton on LC at sight, CIF China Main Port basis but no weekly comparison available. We notice that there are some deals concluded at the same level at the initial offer levels. As of recent, China’s PE price movement is on full swing. We assumed that the reason behind the rebound in futures prices, which also leads to firmer spot prices, is mainly caused by the skyrocketed stock market,” a global trading house commented to SSESSMENTS.COM.
“This week, most suppliers are holding their offers. A Qatari producer and a Thai producer usually released their offers on a weekly basis, but we did not receive any offers from both producers this week. The Qatari producer notified that the company decided to seal the deal, while the Thai producer informed on having limited allocation. As such, there are only a few fresh offers in the market and most offers are coming from traders,” as told by a trader based in Xiamen.
“This week, a Thai PE producer is quoting HDPE Film cargoes to the China market between $1,010-1,015/ton on LC at sight, CIF Main Port basis. From our end, some deals managed to close at below $1,000/ton-level but we could not disclose the exact number,” a China-based trader reported to SSESSMENTS.COM.
“From imports, offers for HDPE Film of Saudi origin went up between $10-30/ton from last week, currently at $950-980/ton on LC at sight, CIF China Main Port basis. Although this time of the year is counted as the low season for PE, the fundamental demand is still existing. Most suppliers are attempting to hype the market sentiment by hinting at a price increase considering the supply disruption from Iran, a key PE supplier to China. However, since the delayed cargoes from Iran will arrive by the end of July, tight supply will be eased and the prices will surely face downward pressure by then. As the current offer level is deemed too high, most buyers are reluctant to make fresh procurement,” a trader based in China commented to SSESSMENTS.COM.
Tags: Asia Pacific,China,English,NEA,News,PE
Published on July 13, 2020 11:14 AM (GMT+8)Last Updated on July 13, 2020 11:15 AM (GMT+8)
