SSESSMENTS.COM’s team noted that import HDPE Film offers to China market moved a few hundred dollars and reached a peak in mid-April. As the demand from the energy sector crashed due to the Coronavirus pandemic, the import offers to China market were in a downward motion. On April 1, the lowest transaction for HDPE Film of United Arab Emirates origin was captured at $640/ton, after a hefty reduction of $80/ton on a weekly comparison. In the same week, a Malaysian polyolefins producer also offered HDPE Film to China market at $640/ton.
On post-Tomb-Sweeping Day (Qingming Festival), local PE offers in China gained momentum supported by the upward movement in the futures market. Following the movement in the domestic market, foreign suppliers decided to take the same pricing strategy. The upward movement, however, received negative feedback from market participants. Sources stated to SSESSMENTS.COM that buyers are showing cold response as the offers deemed too high, while some said PE offers in the domestic market are much more competitive.
According to SSESSMENTS.COM pricing database, the upward adjustment on import HDPE Film offers of various origins to China market continued until mid of the month and reached the highest point before the offers start to move lower again. At its peak, the offers for Middle Eastern HDPE Film to China market captured at around $140-180/ton higher from the lowest offers recorded at $640/ton in early April.
For Southeast Asia origin, the highest offers for Thai HDPE Film in April recorded at $280/ton higher from the lowest offers of $680/ton. While for Indonesia and Malaysia origin, SSESSMENTS.COM noted that the highest HDPE Film offers in April were at $820/ton and between $780-790/ton respectively, which is $175/ton higher compared to the lowest offers captured for Indonesian HDPE Film cargoes and around $140-150/ton higher for Malaysian HDPE Film cargoes.
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