Comments by market players on LLDPE Film C4 market as follows:
A global trading house commented to SSESSMENTS.COM, “On a weekly comparison, July shipment offers for Qatari and Saudi LLDPE Film C4 increased by $25/ton and $10/ton, respectively. At the moment, import PE prices are on an upward slope. Some deals could be concluded even though the buying sentiment is flat and buyers still show resistance towards high prices.”
“This week, a Saudi PE producer has announced July shipment offers to China market. LLDPE Film C4 offers from the producer increased by $50/ton from June shipment. As the allocation is limited, we purchased some volume at the same level to the initial offers at $800/ton LC at sight, CIF China Main Port basis,” as stated by a trader on June 23.
Another trader revealed to SSESSMENTS.COM, “We received July shipment offers for Saudi LLDPE Film C4 at $60/ton higher compared to June shipment. Offers to our customers for these cargoes will be $30/ton higher than the suppliers’ offers at $830/ton on LC at sight, CIF China Main Port basis as the availability is limited. While July shipment offers for LLDPE Film C4 from a Qatari PE producer moved up by $50-60/ton from June shipment. The allocation for these cargoes is also limited due to the production issue at the producer’s end. So far, buyers' responses are not that positive as they only purchased in a small volume. As for Iranian cargoes, the shipment was supposed to be in May but delayed for two months. The cargoes will arrive at the same time with July shipment Middle Eastern cargoes; hence by then, PE supply in China will be ample.”
“July shipment offers for LLDPE Film C4 of Saudi origin are available at $50/ton higher compared to June shipment. We purchased some volume for these cargoes at the same level to the initial offers at $800/ton on LC at sight, CIF China Main Port basis as the allocation is limited. Moreover, the prices are lower compared to July shipment offers from other suppliers. We believe that supply for LLDPE Film C4 will be limited in the near term as Iranian cargoes could not dock at the ports due to the sanction from the USA,” a Shanghai-based trader commented on June 24.
“This week, we received July shipment offers for LLDPE Film C4 cargoes of several origins. On a weekly comparison, July shipment offers for Qatari LLDPE Film C4 increased by $30/ton. While for South Korean cargoes, the offers moved up by $50/ton from June shipment. We also received offers for South African LLDPE Film C4 via a trader between $775-780/ton on LC at sight, CIF China Main Port basis. We think, higher feedstock prices and no sales pressure are the reason for firmer import PE prices to China. Moreover, most suppliers take the chance to increase PE prices due to the delay in shipment of Iranian cargoes. However, as most buyers started to show resistance toward current offers, we predict sales for July shipment would not be satisfactory,” a trader shared with SSESSMENTS.COM.
A Chinese trader informed on June 24, ”We are offering South Korean LLDPE Film C4 for July shipment at $855/ton on LC at sight, CIF China Main Port basis. However, buyers submitted bids at $50/ton lower than the initial offer level; hence we rejected the bids. We are also offering Qatari LLDPE Film C4 at $830/ton on the same payment and delivery terms. So far, no deals concluded yet.”
Transactions for import LLDPE Film C4 between June 22 to June 26 on LC at sight, CIF China Main Port basis
Tags: Asia Pacific,China,English,NEA,News,PE
Published on June 29, 2020 10:19 AM (GMT+8)
