- Various adjustments on local PE offers captured during April
- Market players preferred to halt procurements amid the prolonged lockdown
- Buying sentiment would not instantly back to normal after the lockdown lifted
Various adjustments on local PE offers were captured during April. In Thailand, local PE offers across all grades were adjusted down twice in the first half of April with a total reduction of THB1,000/ton ($31/ton). However, SSESSMENTS.COM’s data showed that on the week commencing April 20, a local producer in Thailand increased PE offers between THB250-1,000/ton ($8-31/ton) depending on the grades citing satisfactory sales in the previous week. While in Malaysia, April delivery offers for HDPE Blow Moulding, HDPE Film, and LDPE Film cargoes from a local polyolefins producer in the country decreased by MYR200/ton ($46/ton) compared to March delivery. As for the Philippines, some converters reported on receiving offers for LLDPE Film C4 from the leading polyolefins producer in the country at PHP9,000/ton ($178/ton) lower from mid-February level. However, no fresh official offers from the producer were reported as the company was only sold based on customers’ bids until the end of April.
In the import market, on the week commencing April 6, HDPE Film offers of Middle East origin to Malaysia dropped by $20-40/ton compared to the previous week. However, in the following week, the offers increased by $10-30/ton as the previous offers were considered low. While May shipment offers for Saudi LLDPE Film C4 decreased by $70/ton from April and bids were submitted at $30/ton lower from the initial offers at $700/ton on LC at sight, CIF Malaysia Main Port basis. As for US mLLDPE C6, the offers to Malaysia market stood at $720/ton on LC at sight, CIF Penang Port on the week commencing April 13. While offers for Singaporean mLLDPE C6 cargoes to the Philippines moved down by $20/ton at the beginning of April. Despite the price cut, a converter commented to SSESEMENTS.COM that the offers were too high and the producer might lose their customers if the offers remain non-competitive. Detailed information for Indonesia and Vietnam market is available in MonthlySSESSMENTS of the respective countries.
In general, PE demand in Southeast Asia region was subdued in April. Market players in the Philippines and Malaysia preferred to halt procurements and only purchased on a need basis as demand for the finished product remained sluggish due to the prolonged lockdown. The rebound in the China market did not affect market sentiment in the region. Moreover, most converters in Malaysia reported running production at 25-50% from the normal rates due to the slow demand coupled with the lack of workforce. However, the demand for HDPE Blow Moulding in Malaysia and Thailand was considered healthy in line with the strong demand for flexible packaging. On the supply side, on the week commencing April 6, limited supply was reported for Qatari PE cargoes due to the maintenance at the producer’s plant, SSESSMENTS.COM noted.
Entering May, market players opined to SSESSMENTS.COM that the outlook for PE market in Southeast Asia would remain gloomy onward as buying sentiment would not instantly back to normal even though the government decided to lift the lockdown. Moreover, low crude oil and monomer prices would keep dragging the sentiment down.
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WeeklySSESSMENTS: SEA PE Prices W/C April 27
NewsSSESSMENTS: Trader Revealed Deals For Middle Eastern PE Cargoes To Thailand, Captured With Wide Gap From Initial Offers
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Transactions for local PE between April 1 to April 3 on FD basis, excluding VAT (except in 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 Country |
|---|
| Malaysia | HDPE Blow Moulding | Price List | MYR | 3,740 | 870 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Price List | MYR | 3,660-4,110 | 851-956 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Offer Given | MYR | 3,660 | 851 | 30 Days Credit Term | Malaysia |
| Philippines | HDPE Film | Offer Given | PHP | 59,000-60,000 | 1,041-1,059 | Cash In Advance | Philippines |
| Thailand | HDPE Film | Offer Received | THB | 28,750 | 882 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Given | THB | 28,500-29,000 | 875-890 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Price List | MYR | 4,270-4,370 | 993-1,016 | 30 Days Credit Term | Malaysia |
| Malaysia | LDPE Film | Offer Given | MYR | 4,270-4,370 | 993-1,016 | 30 Days Credit Term | Malaysia |
| Thailand | LDPE Film | Offer Received | THB | 33,750 | 1,036 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Given | THB | 34,000 | 1,043 | Cash In Advance | Thailand |
| Malaysia | LLDPE Film C4 | Offer Given | MYR | 3,620 | 842 | 30 Days Credit Term | Malaysia |
| Malaysia | LLDPE Film C4 | Offer Received | MYR | 3,520 | 819 | 30 Days Credit Term | Malaysia |
| Malaysia | LLDPE Film C4 | Price List | MYR | 3,620 | 842 | 30 Days Credit Term | Malaysia |
| Philippines | LLDPE Film C4 | Offer Received | PHP | 50,000 | 882 | Cash In Advance | Philippines |
| Thailand | LLDPE Film C4 | Offer Received | THB | 28,750 | 882 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Given | THB | 29,000 | 890 | Cash In Advance | Thailand |
Transactions for import PE between April 1 to April 3 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Middle East | HDPE Film | Sold | 790-800 | Southeast Asia |
| Middle East | HDPE Film | Offer Received | 770 | Thailand |
| Middle East | HDPE Film | Offer Received | 740 | Philippines |
| Southeast Asia | HDPE Film | Offer Given | 730 | Thailand |
| Middle East | LLDPE Film C4 | Offer Received | 800 | Myanmar |
| Middle East | LLDPE Film C4 | Sold | 790-800 | Southeast Asia |
| Middle East | LLDPE Film C4 | Offer Received | 780 | Thailand |
| North America | mLLDPE C6 | Offer Received | 1,020 | Philippines |
Transactions for local/localized PE between April 6 to April 10 on cash FD basis, excluding VAT (except in 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 Country |
|---|
| Malaysia | HDPE Blow Moulding | Price List | MYR | 3,740 | 861 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Price List | MYR | 3,660-4,110 | 842-946 | 30 Days Credit Term | Malaysia |
| Philippines | HDPE Film | Offer Given | PHP | 59,000-60,000 | 1,041-1,059 | Cash In Advance | Philippines |
| Middle East | HDPE Film | Sold | THB | 27,500 | 844 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Given | THB | 28,250 | 867 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Given | THB | 27,000-29,000 | 829-894 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Received | THB | 28,250 | 867 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Price List | MYR | 4,270-4,370 | 983-1,006 | 30 Days Credit Term | Malaysia |
| Thailand | LDPE Film | Offer Given | THB | 32,000-33,250 | 987-1,020 | Cash In Advance | Thailand |
| Philippines | LLDPE Film C4 | Offer Received | PHP | 50,000 | 882 | Cash In Advance | Philippines |
| Thailand | LLDPE Film C4 | Offer Given | THB | 27,000-29,000 | 829-894 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Received | THB | 28,250 | 867 | Cash In Advance | Thailand |
Transactions for import PE between April 6 to April 10 on LC at sight, CIF/CFR Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Middle East | HDPE Film | Bid Received | 680-690 | Malaysia |
| Middle East | HDPE Film | Offer Given | 730-750 | Malaysia |
| Middle East | HDPE Film | Offer Received | 770 | Thailand |
| Middle East | HDPE Film | Offer Received | 830 | Philippines |
| Middle East | LDPE Film | Offer Given | 880 | Malaysia |
| Middle East | LLDPE Film C4 | Bid Received | 680-690 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Given | 760 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Received | 780 | Philippines |
| Middle East | LLDPE Film C4 | Offer Received | 780 | Thailand |
| Middle East | LLDPE Film C4 | Purchased | 840 | Thailand |
| North America | LLDPE Film C4 | Offer Received | 750* | Malaysia |
| North America | LLDPE Film C4 | Buy Idea | 650*-660* | Malaysia |
| North America | mLLDPE C6 | Offer Received | 720 | Malaysia |
| North America | mLLDPE C6 | Purchased | 720 | Malaysia |
| North America | mLLDPE C6 | Offer Received | 750 | Philippines |
Description: *Shipped from Singapore
Transactions for local PE between April 13 to April 17 on FD basis, excluding VAT (except in 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 Country |
|---|
| Malaysia | HDPE Blow Moulding | Price List | MYR | 3,740 | 862 | 30 Days Credit Term | Malaysia |
| Thailand | HDPE Blow Moulding | Offer Given | THB | 28,250 | 867 | Cash In Advance | Thailand |
| Malaysia | HDPE Film | Price List | MYR | 3,660-4,110 | 843-947 | 30 Days Credit Term | Malaysia |
| Philippines | HDPE Film | Offer Given | PHP | 59,000-60,000 | 1,038-1,056 | Cash In Advance | Philippines |
| Thailand | HDPE Film | Offer Given | THB | 27,500-28,250 | 844-867 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Sell Idea | THB | 28,500 | 875 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Offer Received | MYR | 4,340 | 1,009 | 30 Days Credit Term | Malaysia |
| Malaysia | LDPE Film | Purchased | MYR | 4,340 | 1,009 | 30 Days Credit Term | Malaysia |
| Thailand | LDPE Film | Offer Given | THB | 32,500-33,000 | 997-1,013 | Cash In Advance | Thailand |
| Malaysia | LLDPE Film C4 | Offer Received | MYR | 3,180 | 740 | 30 Days Credit Term | Malaysia |
| Malaysia | LLDPE Film C4 | Purchased | MYR | 3,180 | 740 | 30 Days Credit Term | Malaysia |
| Philippines | LLDPE Film C4 | Offer Received | PHP | 50,000 | 880 | Cash In Advance | Philippines |
| Thailand | LLDPE Film C4 | Offer Given | THB | 27,500-28,250 | 844-867 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Sell Idea | THB | 28,500 | 875 | Cash In Advance | Thailand |
Transactions for import PE between April 13 to April 17 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Middle East | HDPE Blow Moulding | Offer Given | 850*-870* | Malaysia |
| Middle East | HDPE Film | Offer Given | 760* | Malaysia |
| Southeast Asia | HDPE Film | Offer Received | 760 | Philippines |
| Southeast Asia | HDPE Film | Offer Given | 800 | Philippines |
| Middle East | LDPE Film | Offer Given | 870*-880* | Malaysia |
| Southeast Asia | LDPE Film | Offer Given | 940 | Philippines |
| Middle East | LLDPE Film C4 | Offer Given | 740* | Malaysia |
| Middle East | LLDPE Film C4 | Bid Received | 700*-720* | Malaysia |
| Middle East | LLDPE Film C4 | Offer Received | 700 | Malaysia |
| North America | LLDPE Film C4 | Bid Given | 680 | Malaysia |
| North America | LLDPE Film C4 | Bid Received | 680 | Malaysia |
| Southeast Asia | LLDPE Film C4 | Offer Given | 790 | Philippines |
| North America | mLLDPE C6 | Offer Received | 1,000 | Philippines |
Description: *May shipment offers
Transactions for local/localized PE between April 20 to April 24 on FD basis, excluding VAT (except in 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 Country |
|---|
| Thailand | HDPE Blow Moulding | Offer Given | THB | 28,750 | 882 | Cash In Advance | Thailand |
| Malaysia | HDPE Film | Offer Given | MYR | 3,400-3,660 | 791-851 | 30 Days Credit Term | Malaysia |
| Philippines | HDPE Film | Offer Given | PHP | 59,000-60,000 | 1,037-1,055 | Cash In Advance | Philippines |
| Thailand | HDPE Film | Offer Given | THB | 28,000-28,750 | 859-882 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Received | THB | 28,500 | 875 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Offer Given | MYR | 4,100-4,270 | 953-993 | 30 Days Credit Term | Malaysia |
| Malaysia | LDPE Film | Offer Received | THB | 32,000 | 982 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Given | THB | 33,000-34,000 | 1,013-1,043 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Received | THB | 33,500 | 1,028 | Cash In Advance | Thailand |
| Malaysia | LLDPE Film C4 | Offer Given | MYR | 3,400-3,620 | 791-842 | 30 Days Credit Term | Malaysia |
| Malaysia | LLDPE Film C4 | Offer Received | MYR | 3,180 | 740 | 30 Days Credit Term | Malaysia |
| Philippines | LLDPE Film C4 | Offer Received | PHP | 50,000 | 879 | Cash In Advance | Philippines |
| Thailand | LLDPE Film C4 | Offer Given | THB | 28,000-28,750 | 859-882 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Received | THB | 28,500 | 875 | Cash In Advance | Thailand |
Transactions for import PE between April 20 to April 24 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Middle East | HDPE Blow Moulding | Offer Given | 850-880 | Malaysia |
| Middle East | HDPE Film | Offer Given | 760 | Malaysia |
| Middle East | HDPE Film | Bid Received | 680-700 | Malaysia |
| Southeast Asia | HDPE Film | Offer Given | 750 | Southeast Asia |
| Middle East | LDPE Film | Purchased | 810 | Malaysia |
| Middle East | LDPE Film | Offer Given | 880 | Malaysia |
| Middle East | LDPE Film | Bid Received | 800 | Malaysia |
| Southeast Asia | LDPE Film | Offer Given | 830-900 | Southeast Asia |
| Middle East | LLDPE Film C4 | Bid Given | 700 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Received | 730 | Malaysia |
| Middle East | LLDPE Film C4 | Bid Received | 650-670 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Given | 750 | Malaysia |
| Middle East | LLDPE Film C4 | Sold | 690 | Malaysia |
| Middle East | LLDPE Film C4 | Bid Received | 650-660 | Singapore |
| Middle East | LLDPE Film C4 | Offer Given | 750 | Singapore |
| Southeast Asia | LLDPE Film C4 | Offer Given | 720-750 | Southeast Asia |
Transactions for local/localized PE between April 27 to April 30 on FD basis, excluding VAT (except in 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 Country |
|---|
| Malaysia | HDPE Blow Moulding | Price List | MYR | 3,480 | 800 | 30 Days Credit Term | Malaysia |
| Thailand | HDPE Blow Moulding | Offer Given | THB | 28,750 | 882 | 30 Days Credit Term | Thailand |
| Malaysia | HDPE Film | Price List | MYR | 3,400-4,110 | 781-944 | 30 Days Credit Term | Malaysia |
| Philippines | HDPE Film | Offer Given | PHP | 59,000-60,000 | 1,043-1,060 | Cash In Advance | Philippines |
| Thailand | HDPE Film | Offer Given | THB | 28,750 | 882 | 30 Days Credit Term | Thailand |
| Thailand | HDPE Film | Offer Given | THB | 28,250-28,500 | 871-879 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Sold | THB | 27,000 | 832 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Price List | MYR | 4,010-4,150 | 922-954 | 30 Days Credit Term | Malaysia |
| Malaysia | LDPE Film | Offer Given | MYR | 4,010-4,070 | 931-944 | 30 Days Credit Term | Malaysia |
| Thailand | LDPE Film | Offer Given | THB | 34,000 | 1,048 | 30 Days Credit Term | Thailand |
| Thailand | LDPE Film | Offer Given | THB | 32,000 | 987 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Received | THB | 33,500 | 1,033 | Cash In Advance | Thailand |
| Malaysia | LLDPE Film C4 | Offer Received | MYR | 2,890-3,100 | 671-719 | 30 Days Credit Term | Malaysia |
| Malaysia | LLDPE Film C4 | Purchased | MYR | 2,890 | 671 | 30 Days Credit Term | Malaysia |
| Philippines | LLDPE Film C4 | Offer Given | PHP | 50,000 | 884 | Cash In Advance | Philippines |
| Thailand | LLDPE Film C4 | Offer Received | THB | 28,500 | 879 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Given | THB | 28,750 | 882 | 30 Days Credit Term | Thailand |
| Thailand | LLDPE Film C4 | Sold | THB | 27,000 | 832 | Cash In Advance | Thailand |
Transaction for import PE between April 27 to April 30 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Middle East | HDPE Blow Moulding | Offer Given | 850-870 | Malaysia |
| Middle East | HDPE Film | Offer Given | 730-740 | Malaysia |
| Middle East | HDPE Film | Offer Given | 720-730 | Southeast Asia |
| Middle East | HDPE Film | Offer Received | 750 | Thailand |
| Southeast Asia | HDPE Film | Offer Received | 740 | Philippines |
| Middle East | HDPE Film | Sold | 730-740 | Malaysia |
| Middle East | HDPE Film | Sold | 720-730 | Southeast Asia |
| Middle East | LDPE Film | Offer Given | 820-840 | Malaysia |
| Middle East | LDPE Film | Sold | 820 | Malaysia |
| Southeast Asia | LDPE Film | Offer Received | 870 | Thailand |
| Middle East | LLDPE Film C4 | Offer Given | 730-740 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Given | 700-710 | Southeast Asia |
| Middle East | LLDPE Film C4 | Offer Received | 850 | Philippines |
| Middle East | LLDPE Film C4 | Offer Received | 820 | Thailand |
| Middle East | LLDPE Film C4 | Sold | 700-710 | Southeast Asia |
Tags: Asia Pacific,English,Monthly,PE,SEA
Published on May 6, 2020 1:20 PM (GMT+8)
Last Updated on May 6, 2020 1:20 PM (GMT+8)
