Transactions for import LLDPE Film C4 between May 25 to May 29 on LC at sight, CIF/CFR China Main Port basis
- India Subcontinent origin $750-770/ton
- Middle East origin $750-770/ton
Comments by market players on LLDPE Film C4 as follows:
“Middle East producer still hold their fresh offers amid Eid-al Fitr holiday but hinted at raising offers between $40-50/ton for June shipment prices. Although the buying sentiment is flat at present, we believe oil futures price won’t show negative again and it’s more likely to be firm which could support the PE prices,” a Shanghai-based trader told SSESSMENTS.COM.
“Middle Eastern producer informed their fresh offers for LLDPE Film C4 at $750/ton on LC at sight, CIF China Main Port basis, gaining $30/ton from last week-offers,” a trader informed on May 26.
“Both traders and converters are very cautious amid “new normal” with international trade friction and low appetite to consume high-priced and/or non-essential end-product. For this week, customers showed resistance after higher prices were announced for all PE grades following an upward trend last week. Indian Subcontinent now offered LLDPE Film C4 at $750-770/ton on LC at sight, CIF China Main Port basis. ” Shantou-based trade told SSESSMENTS.COM.
“We bought LLDPE Film C4 on initial offers at $760/ton on LC at sight, CIF China Main Port basis from Middle East producer. The producer also informed their allocations for China market have been sold out with an estimated cargoes arrival in July,” Shanghai-based trader informed on May 27.
“Middle East producer informed an increased LLDPE Film C4 offers by $10/ton from last week, now at $780/ton on LC at sight, CIF China Main Port basis,” trader told SSESSMENTS.COM.
“For now, PE prices looks soft, but we predict in the near term import offers will see some stability. Firm prices will be supported by three determinant. Firstly, coming to the beginning of June, local producers have no inventory pressure, they will support the market prices. Secondly, import offers are supported by the high C2 prices, as well as the relatively tight supply. Thirdly, with more businesses reopening in other countries, the allocations won’t be aggressively moved to China market,” a Chinese trader commented on May 28.
“Middle East producer offered LLDPE film C4 at $820/ton, an increment of $30/ton. Offers on LC at sight, CFR China Main Port basis,” a trader based in Guangzhou informed SSESSMENTS.COM.
“Most converters have finished the replenishment activities coming to the end of this month, so the enquires for PE is limited except for urgent production usage. Coming to next month, PE market is entering traditional low seasons, but we are not sure that this year the pattern will repeat itself or not, as this year is a very special year. But in the short term, import prices won’t drop sharply supported by the higher cost,” reveal a Beijing-based trader on May 29.
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Tags: Asia Pacific,China,English,ISC,Middle East,NEA,News,PE
Published on June 1, 2020 10:25 AM (GMT+8)Last Updated on June 1, 2020 12:13 PM (GMT+8)
