- PE prices in China fluctuated significantly during April
- Demand was generally in a soft note since sales for end products remained slow
- Several factors predicted to drag PE prices down
Based on the data collected by SSESSMENTS.COM, local and import PE prices in the China market fluctuated significantly during April. On the week commencing April 6, the stronger PE prices in the futures market sparked upward adjustment on HDPE Film offers by CNY300/ton ($42/ton), HDPE Pipe (PE 100) by CNY500/ton ($70/ton) and LLDPE Film C4 by CNY600/ton ($85/ton). The uptrend did not last for a long time due to the lack of supporting factors. In the upcoming week, all grades of PE edged down between CNY200-300/ton ($28-42/ton). Further reductions captured on the week commencing April 20. The plunge in crude oil prices dragged down all offers for PE grades between CNY200-300/ton ($28-42/ton). On April 22, LLDPE Film C4 prices in the futures market as well as spot market broke CNY6,000/ton ($845/ton) level. The lowest offers for LLDPE Film C4 in the spot market were captured at CNY5,800/ton ($817/ton) on cash, EXW East China and including 13% VAT. As for futures prices, September 2020 LLDPE futures prices on Dalian Commodity Exchange settled at CNY5,715/ton ($805/ton), decreased by CNY525/ton ($74/ton) compared to the settlement on Friday, April 17. However, in the following week, PE offers across all grades surged between CNY50-200/ton ($7-28/ton) as supported by the increment in the futures market.
Import PE offers moved into two directions on the week commencing April 6. Thai HDPE Film cargoes increased between $25-35/ton, $20-25/ton for LDPE Film, and between $40-50/ton for LLDPE Film C4. Likewise, offers from the leading Saudi polyolefins producer were adjusted up by $60/ton. Meanwhile, PE cargoes of Iran origin dropped between $40-70/ton while Qatari origin edged down by $40/ton. In the following week, a Thai PE producer increased the offers by $150/ton for HDPE Film and by $80/ton for LLDPE Film C4. However, due to the cold response from buyers, a day later, the producer adjusted down the offers for HDPE Film and LLDPE Film C4 by $20/ton and $30/ton, respectively. The downtrend persisted until the week commencing April 20. The Thai PE producer reduced the offers for HDPE Film by $120/ton, HDPE Yarn by $60/ton, LDPE Film by $20/ton and $5/ton for LLDPE Film C4. For Saudi origin, offers for HDPE Film and LLDPE Film C4 were down by $40/ton and $20/ton respectively. In the last week of the month, Thai and South Korean HDPE Film cargoes increased by $20/ton and $30/ton respectively. Likewise, Thai and US LLDPE Film C4 cargoes were up by $30/ton and $20/ton. In contrast, SSESSMENTS.COM noted that offers for HDPE Film from a Middle Eastern PE producer dropped by $10/ton. All price changes are on a weekly comparison.
Bullish buying sentiment observed on the week commencing April 6. Stronger PE prices in the futures market on the week commencing April 6 made hedgers aggressively taking some materials as sales were better. Likewise, the increases in the futures market were also led to bullish buying sentiment on the week commencing April 27. However, as of Wednesday, April 29, China market was on mute as buyers were already in a holiday mood, SSESSMENTS.COM was told. On the supply front, market talks have it that supply for LDPE Film of Qatar origin was limited within the week commencing April 20 as the producer was having technical issues at their plant.
Looking into May, some market players believe that PE prices will move lower as more and more import cargoes from various origins enter the China market. Besides, demand from the downstream market is predicted to remain on the soft note as buyers prefer to wait on the sidelines, as stated to SSESSMENTS.COM. Meanwhile, some others believe that local and import PE prices will be stable onwards as crude oil prices have started to rebound.
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Transaction for local/localized PE between April 1 to April 3 on cash, EXW China basis (including 13% VAT in CNY term, excluding VAT in USD term)
| Origin | Product | Transaction Type | Offers (CNY/ton) | Equivalent in USD/ton |
|---|
| China | HDPE Blow Moulding | Price List | 6,400-6,700 | 801-838 |
| China | HDPE Film | Price List | 6,800-6,900 | 851-863 |
| China | HDPE Film | Offer Given | 6,400-6,800 | 801-851 |
| Taiwan | HDPE Film | Offer Given | 7,000-7,100 | 876-888 |
| China | HDPE Pipe (PE 100) | Price List | 7,000-7,250 | 876-907 |
| China | HDPE Yarn | Price List | 6,400-6,700 | 801-838 |
| China | HDPE Yarn | Offer Given | 6,600 | 826 |
| China | LDPE Film | Price List | 6,900-7,300 | 863-913 |
| China | LDPE Film | Offer Given | 6,800-7,150 | 851-894 |
| China | LLDPE Film C4 | Offer Given | 5,600-6,100 | 700-763 |
| China | LLDPE Film C4 | Price List | 5,950-6,150 | 744-769 |
Transaction for import PE between April 1 to April 3 on LC at sight, CIF China Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Far East Asia | HDPE Film | Offer Received | 650 |
| Middle East | HDPE Film | Offer Received | 640 |
| Middle East | HDPE Film | Sold | 640 |
| Southeast Asia | HDPE Film | Offer Given | 790-800 |
| Southeast Asia | HDPE Film | Offer Received | 795 |
| Southeast Asia | HDPE Film | Purchased | 645 |
| Southeast Asia | HDPE Yarn | Offer Received | 735 |
| Middle East | LDPE Film | Offer Given | 800-820 |
| North America | LDPE Film | Offer Received | 890 |
| North America | LDPE Film | Buy Idea | 600 |
| Southeast Asia | LDPE Film | Offer Given | 800-810 |
| Middle East | LLDPE Film C4 | Offer Given | 670 |
| Middle East | LLDPE Film C4 | Offer Received | 700 |
| Middle East | LLDPE Film C4 | Sold | 650 |
| Middle East | LLDPE Film C4 | Sell Idea | 650 |
| Middle East | LLDPE Film C4 | Buy Idea | 600-630 |
| Southeast Asia | LLDPE Film C4 | Offer Given | 720 |
Transaction for local/localized PE April 6 to April 10 on cash, EXW China basis (including 13% VAT in CNY term, excluding VAT in USD term)
| Origin | Product | Transaction Type | Offers (CNY/ton) | Equivalent in USD/ton |
|---|
| China | HDPE Blow Moulding | Price List | 6,600-7,100 | 826-888 |
| China | HDPE Film | Price List | 7,000-7,600 | 876-951 |
| China | HDPE Film | Offer Given | 7,400-7,500 | 926-938 |
| Middle East | HDPE Film | Offer Given | 7,400-7,500 | 926-938 |
| Taiwan | HDPE Film | Offer Given | 7,250 | 907 |
| Thailand | HDPE Film | Offer Given | 7,350 | 919 |
| China | HDPE Pipe (PE 100) | Price List | 7,300-7,500 | 913-938 |
| China | HDPE Yarn | Price List | 6,500-6,800 | 813-851 |
| China | LDPE Film | Price List | 7,000-7,600 | 876-951 |
| China | LDPE Film | Offer Given | 7,500-7,600 | 938-951 |
| Malaysia | LDPE Film | Offer Given | 7,250-7,550 | 907-944 |
| Middle East | LDPE Film | Offer Given | 7,500-7,600 | 938-951 |
| Qatar | LDPE Film | Offer Given | 7,500 | 938 |
| China | LDPE Film (CTO) | Sold | 7,100-7,300 | 888-913 |
| China | LLDPE Film C4 | Offer Given | 6,200-6,650 | 766-832 |
| China | LLDPE Film C4 | Price List | 6,450-6,700 | 807-838 |
| Saudi Arabia | LLDPE Film C4 | Offer Given | 6,500-6,550 | 813-819 |
| China | LLDPE Film C4 (CTO) | Sold | 6,215 | 777 |
| China | mLLDPE C6 | Offer Given | 7,200-7,800 | 901-976 |
| Indonesia | mLLDPE C6 | Offer Given | 6,700-6,800 | 838-851 |
Transaction for import PE between April 6 to April 10 on LC at sight, China Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Payment Term |
|---|
| Central Asia | HDPE Blow Moulding | Offer Received | 650 | TT |
| Middle East | HDPE Blow Moulding | Offer Given | 760* | LC at sight |
| Central Asia | HDPE Film | Offer Received | 680-710 | TT |
| Middle East | HDPE Film | Offer Received | 720-730 | LC at sight |
| Middle East | HDPE Film | Purchased | 730 | LC at sight |
| Middle East | HDPE Film | Offer Given | 780 | LC at sight |
| Southeast Asia | HDPE Film | Offer Given | 810-820 | LC at sight |
| Southeast Asia | HDPE Film | Offer Received | 825 | LC at sight |
| Southeast Asia | HDPE Film | Sold | 800-810 | LC at sight |
| Middle East | HDPE Pipe (PE 100) | Sell Idea | 990 | LC at sight |
| Central Asia | LDPE Film | Offer Received | 700 | TT |
| Middle East | LDPE Film | Offer Received | 770-780 | LC at sight |
| Middle East | LDPE Film | Purchased | 770 | LC at sight |
| Southeast Asia | LDPE Film | Offer Given | 820-825 | LC at sight |
| Southeast Asia | LDPE Film | Offer Received | 825 | LC at sight |
| Southeast Asia | LDPE Film | Sold | 820-825 | LC at sight |
| Central Asia | LLDPE Film C4 | Offer Received | 650 | TT |
| Indian Subcontinent | LLDPE Film C4 | Offer Received | 670 | LC at sight |
| Middle East | LLDPE Film C4 | Offer Given | 730-770* | LC at sight |
| Middle East | LLDPE Film C4 | Offer Received | 690-730 | LC at sight |
| Middle East | LLDPE Film C4 | Purchased | 690-730 | LC at sight |
| North America | LLDPE Film C4 | Offer Received | 710 | LC at sight |
| Southeast Asia | LLDPE Film C4 | Offer Given | 770 | LC at sight |
| Southeast Asia | LLDPE Film C4 | Offer Received | 770-780 | LC at sight |
| Southeast Asia | LLDPE Film C4 | Sold | 760-770 | LC at sight |
| Southeast Asia | mLLDPE C6 | Offer Received | 850 | LC at sight |
Description: *Shipment from Singapore
Transaction for local/localized PE between April 13 to April 17 on cash, EXW China basis (including 13% VAT in CNY term, excluding VAT in USD term)
| Origin | Product | Transaction Type | Offers (CNY/ton) | Equivalent in USD/ton |
|---|
| China | HDPE Blow Moulding | Price List | 7,100-7,400 | 888-926 |
| China | HDPE Film | Price List | 7,600-7,900 | 951-988 |
| China | HDPE Film | Offer Given | 7,400-8,000 | 926-1,000 |
| Indonesia | HDPE Film | Offer Received | 7,200 | 901 |
| Malaysia | HDPE Film | Offer Given | 7,400 | 926 |
| Middle East | HDPE Film | Offer Given | 7,200-7,400 | 901-926 |
| Russia | HDPE Film | Offer Received | 7,300 | 913 |
| South Korea | HDPE Film | Offer Given | 7,550 | 944 |
| South Korea | HDPE Film | Offer Received | 7,400 | 926 |
| China | HDPE Pipe (PE 100) | Price List | 8,000-8,300 | 1,000-1,038 |
| Taiwan | HDPE Pipe (PE 100) | Offer Given | 8,250-8,300 | 1,032-1,038 |
| China | HDPE Yarn | Offer Given | 7,300 | 913 |
| China | HDPE Yarn | Price List | 7,300-7,500 | 913-938 |
| South Korea | HDPE Yarn | Offer Given | 7,700 | 963 |
| China | LDPE Film | Offer Given | 7,700-8,200 | 963-1,026 |
| China | LDPE Film | Price List | 7,700-8,100 | 963-1,013 |
| Saudi | LDPE Film | Offer Given | 8,000 | 1,000 |
| China | LLDPE Film C4 | Offer Given | 6,800-7,400 | 851-926 |
| China | LLDPE Film C4 | Price List | 7,100-7,500 | 888-938 |
Transaction for import PE between April 13 to April 17 on LC at sight, CIF China Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Central Asia | HDPE Blow Moulding | Offer Received | 715-720* |
| North America | HDPE Blow Moulding | Sold | 730 |
| Central Asia | HDPE Film | Offer Received | 720-730 |
| Far East Asia | HDPE Film | Sold | 780 |
| Middle East | HDPE Film | Offer Received | 770-780 |
| Southeast Asia | HDPE Film | Offer Given | 930-950 |
| Southeast Asia | HDPE Film | Offer Received | 960 |
| North America | HDPE Film | Offer Received | 725 |
| North America | HDPE Film | Sold | 750 |
| Southeast Asia | HDPE Pipe (PE 100) | Offer Given | 890 |
| Far East Asia | HDPE Yarn | Sold | 770 |
| Southeast Asia | HDPE Yarn | Offer Given | 830-890 |
| Central Asia | LDPE Film | Offer Received | 790-800 |
| Middle East | LDPE Film | Offer Received | 820 |
| Southeast Asia | LDPE Film | Offer Received | 900 |
| Southeast Asia | LDPE Film | Offer Given | 880 |
| Central Asia | LLDPE Film C4 | Offer Received | 720-730 |
| Central Asia | LLDPE Film C4 | Buy Idea | 670 |
| Middle East | LLDPE Film C4 | Offer Received | 720-780 |
| Middle East | LLDPE Film C4 | Buy Idea | 650 |
| North America | LLDPE Film C4 | Sold | 680-720 |
| Southeast Asia | LLDPE Film C4 | Offer Received | 790-850 |
| Southeast Asia | LLDPE Film C4 | Offer Given | 820-850 |
Description: *Offers on TT basis
Transaction for local/localized PE between April 20 to April 24 on cash, EXW China basis (including 13% VAT in CNY term, excluding VAT in USD term)
| Origin | Product | Transaction Type | Offers (CNY/ton) | Equivalent in USD/ton |
|---|
| China | HDPE Blow Moulding | Price List | 6,800-7,100 | 851-888 |
| China | HDPE Film | Price List | 7,100-7,600 | 888-951 |
| South Korea | HDPE Film | Offer Given | 7,100-7,200 | 888-901 |
| China | HDPE Pipe (PE 100) | Price List | 8,100-8,300 | 1,013-1,038 |
| China | HDPE Yarn | Price List | 6,700-7,100 | 838-888 |
| China | LDPE Film | Price List | 6,800-7,200 | 851-901 |
| China | LLDPE Film C4 | Offer Given | 5,800-6,300 | 726-788 |
| China | LLDPE Film C4 | Price List | 6,000-6,500 | 751-813 |
| Saudi | LLDPE Film C4 | Offer Given | 6,700-7,000 | 838-876 |
Transaction for import PE between April 20 to April 24 on LC at sight, CIF China Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| North America | HDPE Blow Moulding | Sold | 705-710 |
| Far East Asia | HDPE Film | Bid Given | 710 |
| Far East Asia | HDPE Film | Offer Received | 760 |
| Far East Asia | HDPE Film | Offer Given | 720 |
| Far East Asia | HDPE Film | Sold | 700-710 |
| Middle East | HDPE Film | Offer Received | 700-760 |
| Middle East | HDPE Film | Offer Given | 820 |
| North America | HDPE Film | Sold | 700-705 |
| Southeast Asia | HDPE Film | Offer Given | 780-810 |
| Southeast Asia | HDPE Film | Offer Received | 780 |
| Southeast Asia | HDPE Film | Sold | 780 |
| Indian Subcontinent | HDPE Yarn | Sold | 750 |
| Southeast Asia | HDPE Yarn | Offer Given | 790 |
| Indian Subcontinent | LDPE Film | Offer Received | 760-800 |
| Middle East | LDPE Film | Offer Received | 800-850 |
| Southeast Asia | LDPE Film | Offer Received | 800-810 |
| Southeast Asia | LDPE Film | Offer Given | 810-860 |
| Far East Asia | LLDPE Film C4 | Offer Received | 730 |
| Far East Asia | LLDPE Film C4 | Bid Given | 680 |
| Indian Subcontinent | LLDPE Film C4 | Offer Received | 670 |
| Middle East | LLDPE Film C4 | Offer Given | 780 |
| Middle East | LLDPE Film C4 | Offer Received | 710-780 |
| North America | LLDPE Film C4 | Offer Given | 650-670 |
| North America | LLDPE Film C4 | Bid Given | 580-600 |
| North America | LLDPE Film C4 | Sold | 630 |
| Southeast Asia | LLDPE Film C4 | Offer Received | 730-770 |
| Southeast Asia | LLDPE Film C4 | Sold | 730-770 |
| Southeast Asia | LLDPE Film C4 | Purchased | 680 |
| North America | LLDPE Film C4 | Offer Given | 650-670 |
| North America | LLDPE Film C4 | Bid Given | 580-600 |
| North America | LLDPE Film C4 | Sold | 630 |
Transaction for local/localized PE between April 27 to April 30 on cash, EXW China basis (including 13% VAT in CNY term, excluding VAT in USD term)
| Origin | Product | Transaction Type | Offers (CNY/ton) | Equivalent in USD/ton |
|---|
| China | HDPE Blow Moulding | Price List | 6,800 | 851 |
| Serbia | HDPE Blow Moulding | Offer Received | 6,650* | 832 |
| China | HDPE Film | Price List | 7,200 | 901 |
| China | HDPE Film | Offer Given | 7,100-7,300 | 888-913 |
| Iran | HDPE Film | Offer Given | 6,800-7,100 | 851-888 |
| Malaysia | HDPE Film | Offer Given | 6,500 | 813 |
| Russia | HDPE Film | Offer Given | 6,450 | 807 |
| Ukraine | HDPE Film | Offer Received | 6,650* | 832 |
| China | HDPE Pipe (PE 100) | Price List | 8,100 | 1,013 |
| Europe | HDPE Pipe (PE 100) | Offer Received | 7,650* | 957 |
| China | HDPE Yarn | Price List | 6,900 | 863 |
| China | LDPE Film | Price List | 7,000-7,450 | 876-932 |
| China | LDPE Film | Offer Given | 7,100-7,300 | 888-913 |
| Malaysia | LDPE Film | Offer Given | 7,200 | 901 |
| Saudi | LDPE Film | Offer Given | 7,400 | 926 |
| China | LLDPE Film C4 | Offer Given | 6,300-6,550 | 788-819 |
| China | LLDPE Film C4 | Price List | 6,400-6,650 | 801-832 |
| Iran | LLDPE Film C4 | Offer Given | 6,400 | 801 |
Description: *Offers on TT basis
Transaction for import PE PVC between April 27 to April 30 on, CIF China Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Payment Term |
|---|
| Central Asia | HDPE Blow Moulding | Offer Received | 690-700 | LC at sight |
| North America | HDPE Blow Moulding | Sold | 700-710 | LC 90 Days |
| North America | HDPE Blow Moulding | Sold | 700-710 | LC at sight |
| Central Asia | HDPE Film | Offer Received | 700-710* | LC at sight |
| Far East Asia | HDPE Film | Offer Given | 750 | LC 90 Days |
| Far East Asia | HDPE Film | Sold | 740 | LC 90 Days |
| Europe | HDPE Film | Sold | 680 | LC at sight |
| Middle East | HDPE Film | Offer Given | 730-760 | LC at sight |
| Middle East | HDPE Film | Offer Received | 800 | LC at sight |
| Middle East | HDPE Film | Bid Given | 710 | LC at sight |
| North America | HDPE Film | Offer Given | 710-730 | LC 90 Days |
| North America | HDPE Film | Offer Received | 710 | LC at sight |
| North America | HDPE Film | Sold | 700-710 | LC 90 Days |
| North America | HDPE Film | Sold | 700-710 | LC at sight |
| Southeast Asia | HDPE Film | Offer Given | 800-810 | LC at sight |
| Southeast Asia | HDPE Film | Offer Received | 820-830 | LC at sight |
| Southeast Asia | HDPE Film | Bid Given | 700 | LC at sight |
| Southeast Asia | HDPE Film | Sold | 800 | LC at sight |
| Indian Subcontinent | HDPE Yarn | Offer Given | 750 | LC at sight |
| Southeast Asia | HDPE Yarn | Offer Given | 780-790 | LC at sight |
| Central Asia | LDPE Film | Offer Received | 780-790 | LC at sight |
| Middle East | LDPE Film | Offer Given | 770-800 | LC at sight |
| Southeast Asia | LDPE Film | Offer Given | 810-830 | LC at sight |
| Central Asia | LLDPE Film C4 | Offer Received | 680-690 | LC at sight |
| Central Asia | LLDPE Film C4 | Bid Given | 700 | LC at sight |
| Indian Subcontinent | LLDPE Film C4 | Purchased | 670-690 | LC at sight |
| Indian Subcontinent | LLDPE Film C4 | Sold | 690 | LC at sight |
| Middle East | LLDPE Film C4 | Offer Given | 690-720 | LC at sight |
| North America | LLDPE Film C4 | Offer Received | 700 | LC at sight |
| North America | LLDPE Film C4 | Sold | 680 | LC at sight |
| Southeast Asia | LLDPE Film C4 | Offer Given | 770 | LC at sight |
| Southeast Asia | LLDPE Film C4 | Offer Received | 820-830 | LC at sight |
| Southeast Asia | LLDPE Film C4 | Bid Given | 700 | LC at sight |
| Southeast Asia | mLLDPE C6 | Offer Given | 890 | LC at sight |
Description: *Offers on TT basis
Tags: Asia Pacific,China,English,Monthly,NEA,PE
Published on May 11, 2020 1:28 AM (GMT+8)
Last Updated on May 11, 2020 1:28 AM (GMT+8)
