Energy And Ethylene Prices Recorded Continuous Upward Movements, Southeast Asian Players Voiced Positive PE Market Outlook
- Local offers shifted ahead of Eid Al-Fitr holiday
- Import PE offers in the region also moved following international market trend
- Market is expected to start to recover after Eid Al-Fitr holiday or around June
As contacted by SSESSMENTS.COM, Southeast Asian players voiced out a positive outlook for PE market on firmer energy and ethylene prices. Local traders informed that a Thai PE producer adjusted up their local offers for PE across all grades between THB1,250-1,500/ton ($39-47/ton) compared to last week’s promotional prices. In Malaysia, a local trader is offering HDPE Film at MYR100/ton ($22/ton) higher from a local producer’s May delivery price list. Meanwhile, local PE offers in the Philippines market remained the same as last week. From the import market, a Middle Eastern producer decided to maintain a stable offer level for LDPE Film this week, while for HDPE Film offers were adjusted up by $10/ton on the high-end level of the price range available last week. For LLDPE Film C4, the producer offered at $20/ton higher from last week. For US cargoes, import LLDPE Film C4 offers for cargoes available in Port Klang, Malaysia increased by $50/ton from two weeks ago, captured at $750/ton on LC at sight, CIF Penang Port. Detailed information for Indonesia and Vietnam market is available in WeeklySSESSMENTS of the respective countries.
Demand wise, sales in the Indonesia and Malaysia markets are slowing down ahead of the Eid Al-Fitr holiday. Buyers are not actively buying because they are already stocking up their inventory before the holiday kicks in. The same tone observed in the neighbouring country with the trader informed that the demand for plastic packaging is still not recovered in Thailand and the Philippines amidst rearrangement of restriction to fight COVID-19 outbreak. No issues in supply were reported to SSESSMENTS.COM until the time of publication of this article.
Some Southeast Asian market players voiced out a positive outlook following the continuous upward movements in crude oil and ethylene prices. Market players in Malaysia and Thailand expect to see improvements in the market activities after the Eid Al-Fitr holiday or around June.
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Local PE offers on FD basis, excluding VAT (PHP term including 12% VAT, all equivalent in USD excluding VAT)
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Location |
|---|
| Thailand | HDPE Blow Moulding | Offer Given | THB | 28,000 | 878 | Cash In Advance | Thailand |
| Malaysia | HDPE Film | Offer Given | MYR | 3,400 | 780 | 30 Days Credit Term | Malaysia |
| Philippines | HDPE Film | Offer Received | PHP | 50,000 | 881 | Cash In Advance | Philippines |
| Southeast Asia | HDPE Film | Offer Given | PHP | 54,000 | 951 | Cash In Advance | Philippines |
| Thailand | HDPE Film | Offer Given | THB | 27,000-28,000 | 846-878 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Received | THB | 28,000 | 878 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Buy Idea | THB | 27,500 | 862 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Offer Given | MYR | 4,000 | 918 | 30 Days Credit Term | Malaysia |
| Southeast Asia | LDPE Film | Offer Given | PHP | 64,000 | 1,127 | Cash In Advance | Philippines |
| Thailand | LDPE Film | Offer Given | THB | 32,500 | 1,019 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Received | THB | 32,500 | 1,019 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Received | THB | 31,250 | 980 | 30 Days Credit Term | Thailand |
| Malaysia | LLDPE Film C4 | Offer Given | MYR | 3,500 | 803 | 30 Days Credit Term | Malaysia |
| Philippines | LLDPE Film C4 | Offer Received | PHP | 50,000 | 881 | Cash In Advance | Philippines |
| Southeast Asia | LLDPE Film C4 | Offer Given | PHP | 55,000 | 968 | Cash In Advance | Philippines |
| Thailand | LLDPE Film C4 | Offer Given | THB | 28,000 | 878 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Received | THB | 28,000 | 878 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Buy Idea | THB | 27,500 | 862 | Cash In Advance | Thailand |
Import PE offers on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Middle East | HDPE Film | Offer Given | 750-770 | Malaysia |
| Middle East | LDPE Film | Offer Given | 850 | Malaysia |
| Middle East | LDPE Film | Sold | 820-830 | Malaysia |
| Middle East | LDPE Film | Offer Given | 840 | Philippines |
| Middle East | LLDPE Film C4 | Offer Given | 750-770 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Given | 750 | Philippines |
| North America | LLDPE Film C4 | Offer Received | 730-750 | Malaysia |
| North America | LLDPE Film C4 | Bid Given | 720-740 | Malaysia |
Tags: Asia Pacific,English,PE,SEA,Weekly
Published on May 21, 2020 1:36 PM (GMT+8)
Last Updated on May 21, 2020 7:20 PM (GMT+8)
