This week, several market sources reported to SSESSMENTS.COM that April shipment PE, PP offers to China and Southeast Asia market mostly surfaced with significant downward adjustments. To China market, HDPE Film and LLDPE Film C4 from one of the Middle Eastern producers captured decreased significantly by $60/ton. Likewise, offers for HDPE Film and LLDPE Film C4 from a Saudi producer emerged with a downward adjustment of between $30-40/ton. From a Qatari producer, offers for HDPE Film, LDPE Film, and LLDPE Film C4 all decreased by $65/ton, by $30/ton, and by $25/ton, respectively. Whereas for Indian cargoes, no comparison available for LLDPE Film C4 and PP Homo Raffia offers. Meanwhile, PP Homo Raffia cargoes of Saudi origin dipped between $30-50/ton. All compared to March shipment offers.
To Southeast Asia market, a Middle Eastern producer reported on maintaining the offers for LDPE Film to Indonesia and Malaysia market at a stable level. Meanwhile, for HDPE Film and LLDPE Film C4, the producer applied a downward adjustment of between $10-20/ton and $20/ton, respectively. From another Middle Eastern supplier, offers for HDPE Film declined by $30/ton, whereas the offers for LLDPE Film C4 were adjusted down between $40-50/ton. From a Saudi producer, offers for Saudi HDPE Film and LLDPE Film C4 to Indonesia edged down by $30/ton. To Vietnam market, LLDPE Film C4 offers of Saudi origin that are already available in Singapore plunged by $50/ton. All compared to last month’s level, SSESSMENTS.COM noted.
Regarding market responses, SSESSMENTS.COM was told that some Chinese buyers are not eager to buy and stay on the sidelines while monitoring the market further. While some others only procured on an as-needed basis. From Southeast Asia, buy ideas for Middle Eastern LLDPE Film C4 from Indonesian and Malaysian buyers were mostly at below $800/ton-level, exactly between $700-750/ton on LC at sight, CIF Main Port basis. However, the supplier is unwilling to sell at that level since there are no other offers available at such a level in the market at the moment.
