Comments by market players on LLDPE Film C4 as follows:
“As compared to last Tuesday, our latest offers for LLDPE Film C4 to China are $20/ton higher. The reason to support a price increment is the stronger futures market, and it seems the China market is on a bullish trend. However the market response by now is not very good, players might want to hold procurements first, as today is the first trading day in May post-Labor Day holiday,” a Thai producer commented while revealing a new upward offer on May 6.
“LLDPE Film C4 cargo from the US sold at $690/ton on LC at sight, CIF China Main Port basis and the producer’s allocation has already sold out for May shipment. Coming to May 6, the China market is reopening after the holiday while crude oil prices increased and the futures market is on an uptrend. We think it is possible for import PE prices to go up in line with that,” a Chinese trader sounding in a positive tone, SSESSMENTS.COM noted.
“The market is not very active, although the crude oil and futures prices are up. Buyers’ procurement pattern remains on an as-needed basis and likely to continue as such for this week,” another Chinese trader commented on May 7.
“Everyone is mostly still in a holiday mood, hence, no significant improvement in the market activities yet. Meanwhile, the gap between ethylene and PE prices is still good, which means a good profit margin, there is some possibility for the price to drop again. It will depend on demand. If PE demand can improve, then prices will remain stable, but if not, it will surely drop,” a China-based trader told SSESSMENTS.COM.
“This week, import LLDPE Film C4 cargoes from the leading Indian petrochemical producer stand at $720/ton on LC at sight, CIF China Main Port basis. The offers are $30/ton higher from last week,” a Dubai-based trader informed.
“For US origin cargoes, LLDPE Film C4 is being offered at $720/ton on LC 90 days, CIF China Main Port basis. Compared to last week, the current offers are $20-30/ton higher. There are still a lot of uncertainties in the market, the upward is lack of demand to support, as such we will be more cautious in taking import cargoes,” a trader based Shanghai said.
A Chinese trader contacted by SSESSMENTS.COM on May 7 informed, “Import offers for Thai LLDPE Film C4 cargoes are currently at $800/ton on LC at sight, CIF China Main Port basis, up by $10/ton from a day earlier.”
“The prices this week for US LLDPE Film C4 cargoes increased by $10-20/ton from last week’s offers. Recently, we managed to sell more US cargoes in China. In April, there were approximately 300,000-400,000 tons of PE cargoes of US origin sold,” a trader based in Ningbo informed.
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Tags: Asia Pacific,China,English,NEA,News,PE
Published on May 11, 2020 1:51 PM (GMT+8)
