Comments by market players on LLDPE Film C4 as follows:
“In response to recent gains in the futures market, we initiated a price increase of CNY100/ton ($14/ton) for local and localized Middle Eastern LLDPE Film C4 cargoes as compared to last Friday’s level. From the import market, current import offers for Middle Eastern cargoes edged higher between $10-15/ton on a weekly comparison. However, as prices are on the consecutive rise, some customers are reluctant to take the cargoes and deemed the current offers from suppliers too high,” a Chinese trader mentioned to SSESSMENTS.COM on July 6.
“On July 8, China’s spot domestic PE prices gained some strength, supported by the increase in the futures market and relatively tight supply in the market. As compared to Tuesday’s level, local LLDPE Film C4 gained a cumulative increase of between CNY100-200/ton ($14-28/ton). Most producers and traders are unwilling to lower their offers despite a strong buyers’ resistance toward higher offer level,” a Xiamen-based trader informed.
“We have announced fresh offers for early August shipment to the China market this week. On the back of limited allocation, we adjusted up offers for LLDPE Film C4 by $40/ton as compared to last week’s level, available in the market at $910/ton on LC at sight, CIF China Main Port basis,” a source from a Thai PE producer informed SSESSMENTS.COM.
“As for South America origin, our company is offering Brazilian LLDPE Film C4 cargoes at $830/ton, or at $10/ton higher as compared to last week with the estimated time of arrival at the end of July. We received a positive response from buyers and managed to conclude some deals. All offers are on LC at sight, CIF China Main Port basis,” a global trading house said.
“In the domestic market, we decided to adjust down offers further in response to the recent drop in the futures market. As compared to Thursday's level, we applied a price reduction of between CNY50-150/ton ($7-21/ton) on local LLDPE Film C4 cargoes. The latest offers from our company’s end are available between CNY7,400-7,600/ton ($1,057-1,085/ton) on cash, EXW China basis and including 13% VAT. The move, however, failed to draw a positive response from buyers as most customers regarded the offer level as high. Coming to the last trading day of the second week of July, Chinese buyers prefer to hold back until they have better clarity on market conditions before taking the next decision. From the import market, our company is offering Saudi LLDPE Film C4 cargoes between $820-840/ton on LC at sight, CIF China Main Port basis, or at $10-20/ton higher compared to last week’s level,” a Ningbo-based trader told SSESSMENTS.COM on July 10.
“As of Friday morning, July 10, the inventory level of the two leading Chinese polyolefins producers stood at 665,000 tons, an increase of 5,000 tons compared to Thursday’s level. When compared to Monday’s level, the figure showed a reduction of 70,000 tons,” a source with knowledge of the matter informed SSESSMENTS.COM.
Transactions for import LLDPE Film C4 between July 6 to July 10 on LC at sight, CIF China Main Port basis
Tags: Asia Pacific,China,English,NEA,News,PE
Published on July 13, 2020 12:42 PM (GMT+8)
