Southeast Asian Market Players: No Immediate Impact Of Coronavirus Outbreak On PE Prices
- Local PE prices captured stable to firmer
- PE demand in Southeast Asia remains on a soft note
- PE prices expected to remain firm on the back of tight supply
Southeast Asian market participants informed SSESSMENTS.COM that there would not be any immediate impact of Coronavirus outbreak on PE prices within the region. In the domestic market, a Philippines PE producer maintains stable PE offers for about two weeks after the company sold out cargoes to the export market. While in Thailand, a local PE producer adjusted up PE offers by THB500/ton ($16/ton) following the tight supply in the domestic market. In the import market, deals for Emirati LLDPE Film C4 cargoes to Malaysia concluded at the same level to the initial offers at $910/ton on LC at sight, CIF Malaysia Main Port basis. While offers for HDPE Film and LLDPE Film C4 from a Kuwaiti PE producer to Southeast Asia were adjusted up by $50/ton and between $80-100/ton, respectively compared to last month. The offers PE cargoes from the Kuwaiti producer to Myanmar and the Philippines are $30/ton higher than other Southeast Asian countries. Detailed information for Indonesia and Vietnam market is available in WeeklySSESSMENTS of the respective countries.
Overall PE resins demand in Southeast Asia remains on a soft note. Buyers have mostly stocked up in the previous week and still have a high inventory level, especially the Philippines and Thailand. While in Malaysia, the market is not fully back from the Lunar New Year holiday. However, a Malaysian converter informed SSESSMENTS.COM that food sector demand was good around the Lunar New Year holiday. On the supply side, Thai’s PTT reported to still have tight supply due to the maintenance.
Looking ahead, most of the Southeast Asian market players opined to SSESSMENTS.COM that there would not be any immediate impact from the Coronavirus outbreak on the polymers market; hence, in the near term, PE prices are expected to remain firm on the back of tight supply in the market.
Tags: Asia Pacific,English,EN PE SEA WSS,Polyethylene (PE),Southeast Asia,WeeklySSESSMENTS PE Prices,SEA PE PricesJanuary 30, 2020 2:33 PM