- Local PE prices made its turning point in the third week of the month
- Sudden shift in market direction caused panic buying
- Latest PE price trend expected to be short-lived
Local PE prices in the Southeast Asia market successfully made a turning point in the third week of the month. On the week commencing May 4, a Malaysian polyolefins producer announced May delivery offers. SSESSMENTS.COM noted that the offers for HDPE Film, HDPE Blow Moulding, and LDPE Film decreased between MYR220-260/ton ($51-61/ton) compared to the offers for April delivery. While from traders’ end, HDPE Film prices reported lower by MYR100/ton ($23/ton) from the producer’s price list. In the following week, a Thai PE producer gave promotional prices in an attempt to boost sales. On a weekly comparison, the producer decreased the offers across all grades of PE by THB750/ton ($24/ton) with minimum purchases of 225 tons. A local trader informed that offers received from the producer decreased by THB1,000/ton ($32/ton) for HDPE Film, THB2,000/ton ($63/ton) for LDPE Film and THB750/ton ($24/ton) for LLDPE Film C4. On the week commencing May 18, the situation shifted on the back of the increases in crude oil prices as well as ethylene prices. A Thai PE producer adjusted up the offers for all grades of PE between THB1,250-1,500/ton ($40-47/ton) compared to promotional prices a week earlier. While in Malaysia, a local trader was offering HDPE Film at MYR100/ton ($23/ton) higher than the local producer’s May delivery price list. In the final week of the month, a Thai PE producer increased the offers for HDPE Film, LDPE Film, and LLDPE Film C4 by THB500/ton ($16/ton) from a week earlier on the back of supply shortage from the producer’s end. From the Philippines market, local HDPE Film and LLDPE Film C4 prices were showing limited changes throughout May. Detailed information for Indonesia and Vietnam market is available in MonthlySSESSMENTS of the respective countries.
In the import market, a significant price reduction was captured on import HDPE Film and LDPE Film prices from Malaysia to the Philippines on the week commencing May 4. On a monthly comparison, offers for HDPE Film edged down by $100/ton while LDPE Film dropped by $50/ton, with the deals concluded at $20/ton lower than the initial offer levels for both cargoes. For Saudi cargoes, during the same timeframe, import offers to the Philippines decreased by $20/ton for HDPE Film and between $30-60/ton for LLDPE Film C4. While in Thailand, the deals for HDPE Film and LLDPE Film C4 of Middle Eastern origin cargoes concluded at $40/ton and $50/ton lower than the initial offer level. In the following week, import Middle Eastern LLDPE Film C4 to Malaysia increased between $10-20/ton compared to a fortnight earlier. Likewise, import US HDPE Film to Myanmar rose between $80-90/ton compared to levels at the end of April. On the week commencing May 18, US LLDPE Film C4 cargoes available in Port Klang, Malaysia increased by $50/ton from two weeks earlier. In the final week of the month, Qatari HDPE Film to Malaysia increased by $10/ton on the high-end level of the price range available a week earlier. For LLDPE Film C4, the offers were stable to firmer by $10/ton on the low-end of the price range. In Thailand, deals for Middle Eastern HDPE Film and LLDPE Film C4 concluded at $30/ton higher than deals in April. In the Philippines, June shipment offers for LLDPE Film C4 of Saudi origin increased by $40/ton on a monthly comparison. Likewise, compared to two weeks earlier, Singaporean mLLDPE C6 increased by $30/ton, as noted by SSESSMENTS.COM.
Despite some countries eased the lockdown, demand for PE resins remained dull in May. On May 4, Malaysia put three states under Conditional Movement Control Order (CMCO) and allowed factories in these areas to run the production at maximum capacity. In the Philippines, the government has also eased the lockdown regulation and allowed factories to run up to 80% from normal capacity. However, in the third week of the month, buyers in Thailand reported to stock up some materials in anticipation of further price increases stemming from the hike of crude oil and ethylene prices. After the panic buying, Thai PE market remained muted until the end of the month, SSESSMENTS.COM was told.
On the supply side, SSESSMENTS.COM was informed that the allocation for LLDPE Film C4 for June shipment from a Middle Eastern PE producer was limited and only for regular customers. In the production sector, Thailand’s PTT Public Company Ltd will conduct maintenance shutdown at the company’s 300,000 tons/year LDPE plant and 400,000 tons/year LLDPE plant for 20-30 days. The maintenance at both plants will likely be done upon the completion of maintenance at the producer’s 300,000 tons/year HDPE plant that started in the week commencing May 25.
Looking into June, even though PE prices were showing an uptrend lately, Southeast Asian market players are being sceptical that it would last for a long time. Citing that the uptrend is only supported by the firm energy market and feedstock prices, without any improvement in actual demand, most players in Southeast Asia predicted that PE prices will move down in June, as stated to SSESSMENTS.COM.
Click below to view related stories and content on SEA PE:
MonthlySSESSMENTS: April SEA PE Prices
MonthlySSESSMENTS: March SEA PE Prices
WeeklySSESSMENTS: SEA PE Prices Week Starting May 25
Transactions for local/localized PE between May 1 to May 8 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 Location |
|---|
| Malaysia | HDPE Blow Moulding | Offer Received | MYR | 3,480 | 812 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Blow Moulding | Buy Idea | MYR | 3,300 | 770 | 30 Days Credit Term | Malaysia |
| Thailand | HDPE Blow Moulding | Offer Given | THB | 28,750 | 910 | 30 Days Credit Term | Thailand |
| Malaysia | HDPE Film | Offer Received | MYR | 3,300 | 770 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Purchased | MYR | 3,300 | 770 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Offer Given | MYR | 3,400 | 793 | 30 Days Credit Term | Malaysia |
| Southeast Asia | HDPE Film | Offer Given | PHP | 54,000 | 959 | Cash In Advance | Philippines |
| Philippines | HDPE Film | Offer Received | PHP | 50,000 | 888 | Cash In Advance | Philippines |
| Thailand | HDPE Film | Offer Given | THB | 28,750 | 910 | 30 Days Credit Term | Thailand |
| Thailand | HDPE Film | Offer Given | THB | 27,500-28,500 | 870-902 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Sell Idea | THB | 27,500-28,000 | 870-886 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Received | THB | 27,500 | 870 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Offer Given | MYR | 4,000 | 933 | 30 Days Credit Term | Malaysia |
| Malaysia | LDPE Film | Offer Received | MYR | 4,010-4,070 | 935-949 | 30 Days Credit Term | Malaysia |
| Southeast Asia | LDPE Film | Offer Given | PHP | 64,000 | 1,136 | Cash In Advance | Philippines |
| Thailand | LDPE Film | Offer Given | THB | 34,000 | 1,076 | 30 Days Credit Term | Thailand |
| Thailand | LDPE Film | Offer Given | THB | 33,500 | 1,060 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Received | THB | 33,250 | 1,052 | Cash In Advance | Thailand |
| Malaysia | LLDPE Film C4 | Offer Given | MYR | 3,500 | 816 | 30 Days Credit Term | Malaysia |
| Southeast Asia | LLDPE Film C4 | Offer Given | PHP | 55,000 | 977 | Cash In Advance | Philippines |
| Philippines | LLDPE Film C4 | Offer Received | PHP | 50,000 | 888 | Cash In Advance | Philippines |
| Thailand | LLDPE Film C4 | Sell Idea | THB | 27,500-28,000 | 870-886 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Given | THB | 28,750 | 910 | 30 Days Credit Term | Thailand |
| Thailand | LLDPE Film C4 | Offer Given | THB | 27,500-28,500 | 870-902 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Received | THB | 27,250 | 862 | Cash In Advance | Thailand |
Transactions for import PE between May 1 to May 8 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Middle East | HDPE Blow Moulding | Price List** | 830 | Philippines |
| Middle East | HDPE Film | Offer Given | 750-770 | Malaysia |
| Middle East | HDPE Film | Bid Received | 720 | Malaysia |
| Middle East | HDPE Film | Price List** | 810 | Philippines |
| Middle East | HDPE Film | Offer Received | 810 | Philippines |
| Southeast Asia | HDPE Film | Offer Received | 750 | Philippines |
| Southeast Asia | HDPE Film | Purchased | 730 | Philippines |
| Middle East | HDPE Film | Purchased | 710 | Thailand |
| North America | HDPE Film | Offer Received | 730-740 | Thailand |
| Middle East | LDPE Film | Offer Given | 850 | Malaysia |
| Middle East | LDPE Film | Sold | 850 | Malaysia |
| Middle East | LDPE Film | Price List** | 870-910 | Philippines |
| Southeast Asia | LDPE Film | Offer Received | 850 | Philippines |
| Southeast Asia | LDPE Film | Purchased | 830 | Philippines |
| Middle East | LLDPE Film C4 | Sell Idea* | 750 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Received | 740-750 | Philippines |
| Middle East | LLDPE Film C4 | Price List** | 740-890 | Philippines |
| Middle East | LLDPE Film C4 | Purchased | 770 | Thailand |
| North America | mLLDPE C6 | Purchased | 720 | Malaysia |
| North America | mLLDPE C6 | Purchased | 740 | Philippines |
Description: *Sell idea for June shipment **Valid until May 8
Transactions for local/localized PE between May 11 to May 15 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 Location |
|---|
| Malaysia | HDPE Blow Moulding | Price List | MYR | 3,480 | 812 | 30 Days Credit Term | Malaysia |
| Thailand | HDPE Blow Moulding | Offer Received | THB | 26,500 | 838 | Cash In Advance | Thailand |
| Malaysia | HDPE Film | Offer Received | MYR | 3,300 | 770 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Price List | MYR | 3,400 | 793 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Offer Given | MYR | 3,400 | 793 | 30 Days Credit Term | Malaysia |
| Philippines | HDPE Film | Offer Received | PHP | 50,000 | 888 | Cash In Advance | Philippines |
| Malaysia | HDPE Film | Offer Given | THB | 26,500 | 838 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Given | THB | 27,000-27,500 | 854-870 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Received | THB | 26,500-28,500 | 838-902 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Purchased | THB | 26,500 | 838 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Sold | THB | 27,500 | 870 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Offer Given | MYR | 4,000 | 933 | 30 Days Credit Term | Malaysia |
| Malaysia | LDPE Film | Price List | MYR | 4,050-4,150 | 945-968 | 30 Days Credit Term | Malaysia |
| Malaysia | LDPE Film | Offer Given | THB | 31,000-31,500 | 981-997 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Received | THB | 31,250 | 989 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Purchased | THB | 31,250 | 989 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Purchased | THB | 31,250 | 989 | 30 Days Credit Term | Thailand |
| Malaysia | LLDPE Film C4 | Offer Received | MYR | 2,890 | 674 | 30 Days Credit Term | Malaysia |
| Malaysia | LLDPE Film C4 | Offer Received | MYR | 3,100 | 723 | 30 Days Credit Term | Malaysia |
| Philippines | LLDPE Film C4 | Offer Received | PHP | 50,000 | 888 | Cash In Advance | Philippines |
| Malaysia | LLDPE Film C4 | Offer Given | THB | 26,500 | 838 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Given | THB | 27,000 | 854 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Received | THB | 26,500 | 838 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Purchased | THB | 26,500 | 838 | Cash In Advance | Thailand |
Transactions for import PE between May 11 to May 15 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Southeast Asia | HDPE Blow Moulding | Offer Received | 760 | Myanmar |
| Southeast Asia | HDPE Blow Moulding | Offer Received | 780 | Philippines |
| Middle East | HDPE Film | Offer Given | 750-760 | Malaysia |
| Middle East | HDPE Film | Sold | 745-755 | Malaysia |
| North America | HDPE Film | Offer Received | 740 | Myanmar |
| Southeast Asia | HDPE Film | Offer Received | 770 | Myanmar |
| North America | HDPE Film | Offer Received | 720 | Philippines |
| Southeast Asia | HDPE Film | Offer Received | 780 | Philippines |
| Southeast Asia | HDPE Film | Purchased | 740 | Philippines |
| Southeast Asia | HDPE Film | Offer Given | 780-790 | Southeast Asia |
| Middle East | LDPE Film | Offer Given | 850 | Malaysia |
| Middle East | LDPE Film | Purchased | 800 | Malaysia |
| Southeast Asia | LDPE Film | Offer Received | 880-890 | Myanmar |
| Southeast Asia | LDPE Film | Offer Received | 900 | Philippines |
| Southeast Asia | LDPE Film | Offer Given | 880-890 | Southeast Asia |
| Middle East | LLDPE Film C4 | Offer Given | 750 | Malaysia |
| Middle East | LLDPE Film C4 | Sold | 745 | Malaysia |
| Middle East | LLDPE Film C4 | Purchased | 710 | Malaysia |
| North America | LLDPE Film C4 | Purchased | 700 | Malaysia |
| Southeast Asia | LLDPE Film C4 | Offer Received | 780 | Myanmar |
| Southeast Asia | LLDPE Film C4 | Offer Given | 780-790 | Southeast Asia |
| Southeast Asia | mLLDPE C6 | Offer Received | 920 | Malaysia |
| Southeast Asia | mLLDPE C6 | Sell Idea | 970 | Malaysia |
| Southeast Asia | mLLDPE C6 | Offer Received | 900 | Philippines |
Transactions for local/localized PE between May 18 to May 22 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 Location |
|---|
| Thailand | HDPE Blow Moulding | Offer Given | THB | 28,000 | 886 | Cash In Advance | Thailand |
| Malaysia | HDPE Film | Offer Given | MYR | 3,400 | 793 | 30 Days Credit Term | Malaysia |
| Philippines | HDPE Film | Offer Received | PHP | 50,000 | 888 | Cash In Advance | Philippines |
| Southeast Asia | HDPE Film | Offer Given | PHP | 54,000 | 959 | Cash In Advance | Philippines |
| Thailand | HDPE Film | Offer Given | THB | 27,500-28,000 | 870-886 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Received | THB | 28,000 | 886 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Buy Idea | THB | 27,500 | 870 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Offer Given | MYR | 4,000 | 933 | 30 Days Credit Term | Malaysia |
| Southeast Asia | LDPE Film | Offer Given | PHP | 64,000 | 1,136 | Cash In Advance | Philippines |
| Thailand | LDPE Film | Offer Given | THB | 32,500 | 1,028 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Received | THB | 32,500 | 1,028 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Received | THB | 31,250 | 989 | 30 Days Credit Term | Thailand |
| Malaysia | LLDPE Film C4 | Offer Given | MYR | 3,500 | 816 | 30 Days Credit Term | Malaysia |
| Philippines | LLDPE Film C4 | Offer Received | PHP | 50,000 | 888 | Cash In Advance | Philippines |
| Southeast Asia | LLDPE Film C4 | Offer Given | PHP | 55,000 | 977 | Cash In Advance | Philippines |
| Thailand | LLDPE Film C4 | Offer Given | THB | 27,500-28,000 | 870-886 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Received | THB | 28,000 | 886 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Buy Idea | THB | 27,500 | 870 | Cash In Advance | Thailand |
Transactions for import PE between May 18 to May 22 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 |
Transactions for local/localized PE between May 25 to May 29 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 Location |
|---|
| Malaysia | HDPE Blow Moulding | Price List | MYR | 3,660 | 854 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Offer Given | MYR | 3,580 | 835 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Offer Received | MYR | 3,750 | 874 | 30 Days Credit Term | Malaysia |
| Malaysia | HDPE Film | Price List | MYR | 3,580 | 835 | 30 Days Credit Term | Malaysia |
| Philippines | HDPE Film | Offer Received | PHP | 50,000 | 888 | Cash In Advance | Philippines |
| Thailand | HDPE Film | Offer Given | THB | 28,000-29,500 | 886-933 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Offer Received | THB | 28,500 | 902 | Cash In Advance | Thailand |
| Thailand | HDPE Film | Sold | THB | 27,000 | 854 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Offer Given | MYR | 4,110 | 959 | 30 Days Credit Term | Malaysia |
| Malaysia | LDPE Film | Price List | MYR | 4,110-4,250 | 959-991 | 30 Days Credit Term | Malaysia |
| Southeast Asia | LDPE Film | Offer Given | PHP | 64,000 | 1,136 | Cash In Advance | Philippines |
| Thailand | LDPE Film | Offer Given | THB | 34,000 | 1,076 | Cash In Advance | Thailand |
| Thailand | LDPE Film | Offer Received | THB | 33,000 | 1,044 | Cash In Advance | Thailand |
| Malaysia | LDPE Film | Offer Given | THB | 32,000 | 1,013 | Cash In Advance | Thailand |
| Malaysia | LLDPE Film C4 | Offer Given | MYR | 3,500 | 816 | 30 Days Credit Term | Malaysia |
| Philippines | LLDPE Film C4 | Offer Received | PHP | 50,000 | 888 | Cash In Advance | Philippines |
| Thailand | LLDPE Film C4 | Offer Given | THB | 28,000-29,500 | 886-933 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Offer Received | THB | 28,500 | 902 | Cash In Advance | Thailand |
| Thailand | LLDPE Film C4 | Sold | THB | 27,000 | 854 | Cash In Advance | Thailand |
Transactions for import PE between May 25 to May 29 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Middle East | HDPE Film | Offer Given | 780 | Malaysia |
| Middle East | HDPE Film | Bid Received | 760 | Malaysia |
| Middle East | HDPE Film | Purchased | 740 | Thailand |
| Middle East | LDPE Film | Offer Given | 840-850 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Given | 760-770 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Received | 750 | Malaysia |
| Middle East | LLDPE Film C4 | Purchased | 740 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Received | 820** | Philippines |
| Middle East | LLDPE Film C4 | Purchased | 800 | Thailand |
| Southeast Asia | mLLDPE C6 | Offer Received | 900-1,040* | Philippines |
Description: *Offers for Singapore origin cargoes **Shipment from Malaysia/Singapore
Tags: Asia Pacific,English,Monthly,PE,SEA,Vietnam
Published on June 3, 2020 3:40 PM (GMT+8)
Last Updated on July 8, 2020 8:47 PM (GMT+8)
