Transactions for import HDPE Film between July 13 to July 17 on LC at sight, CIF/CFR China Main Port basis
Description: *Offers for August shipment **Offers for mid-to-end August shipment- Far East Asia origin $970-990/ton
- Middle East origin $930-1,000/ton
- Southeast Asia origin $950-1,000/ton
Comments by market players on HDPE Film as follows:
“China PE market began trading activities on a positive note this week, with local prices mainly tracking on a rebound in futures prices. In response to recent gains in the futures market, we initiated a price increase of CNY200/ton ($28.5/ton) for local HDPE Film cargoes as compared to last Wednesday’s level. Current offers from our company’s end are still hovering above CNY8,000/ton-level, captured at CNY8,400/ton ($1,201/ton) on cash, EXW China basis and including 13% VAT,” a China-based trader revealed to SSESSMENTS.COM on July 13.
“From the import market, we have received mid-to-end August shipment offers from a Thai PE producer this week. As for HDPE Film cargoes, the latest offers are available at $1,000/ton on LC at sight, CIF China Main Port basis, or $15/ton lower than the offer level available in a week earlier. Although there have been no official updates on the delayed arrivals of Iranian cargoes, we believe that the possibility of import PE prices to move higher will remain thin as the prices have reached their peak level now,” a global trading house said.
“China’s import PE prices have been in a relentless uptrend for the past week. In the open market, most mainstream offers are still sitting in high-level on the back of limited supply, coupled with higher monomer prices. On the first trading day of the week, most foreign suppliers were still maintaining their offer levels stable from a week earlier. However, we have yet to receive fresh offers so far. From our company’s end, import offers for Saudi HDPE Film cargoes are available between $920-950/ton on LC at sight, CIF China Main Port basis, a rollover from last week’s level,” another global trading house reported to SSESSMENTS.COM.
“As for Middle East origin, the leading Saudi polyolefins producer has announced fresh PE offers this week. Compared to last week, the producer initiated a price increase of $40/ton for HDPE Film. The latest offers are available at $1,000/ton on LC at sight, CIF China Main Port basis. Despite the increase in price, sales from our company’s end remain stable from last week,” a source close to the producer informed SSESSMENTS.COM on July 15.
“We have announced offers for August shipment to the China market this week. In response to the recent uptrend in the market, we initiated a price increase of $50/ton for HDPE Film as compared to offers available a fortnight ago, available in the market at $970/ton on LC at sight, CIF China Main Port basis. The move, however, failed to draw a positive response from buyers. Our company failed to meet sales target for this week amid an overall bearish market sentiment,” a source from a South Korean producer informed SSESSMENTS.COM.
“Earlier this week, our latest offers received positive responses from buyers in China. We managed to sell some volumes for HDPE Film between $990-1,000/ton on LC at sight, CIF China Main Port basis, depending on the volumes of purchases. However, sentiment weakened towards the end of the week as most buyers retreated to the sidelines amid a sudden drop in the futures prices,” a Thai PE producer explained.
“On July 16, our company decided to adjust down local offers further in response to the recent drop in the futures market. As compared to Wednesday's level, we applied a price reduction of between CNY50-100/ton ($7-14/ton) on localized Iranian and Middle Eastern HDPE Film cargoes. Overall, domestic demand remains sluggish as the majority of converters prefer to source the materials on a hand-to-mouth basis only,” a Shanghai-based trader reported.
“As futures prices extended their losses on Friday, we initiated a price reduction of between CNY200-300/ton ($28.5-43/ton) for local HDPE Film cargoes from a week earlier. The latest offers from our company’s end are available between CNY8,500-8,600/ton ($1,215-1,230/ton) on cash, EXW China basis and including 13% VAT. From the import market, our company is offering Qatari HDPE Film cargoes between $10-20/ton higher compared to last week’s level. As for Far East Asia origin, we received import offers for HDPE Film from a Taiwanese producer at $990/ton on LC at sight, CFR China Main Port basis, stable as compared to the same period. Even though the increments are not that significant, most buyers are unwilling to place orders for import cargoes as China’s domestic PE prices are currently on a downtrend,” a Xiamen-based trader told SSESSMENTS.COM on July 17.
Tags: Asia Pacific,China,English,NEA,News,PE
Published on July 20, 2020 12:33 PM (GMT+8)Last Updated on July 20, 2020 12:35 PM (GMT+8)
