- Middle East origin $770-840/ton
- Southeast Asia origin $800-860/ton
Comments by market players on HDPE Film market as follows:
“Import offers for Middle Eastern HDPE Film maintained stable from last week at $780/ton on LC at sight, CIF Southeast Asia Main Port basis. By far, deals are done at the same level to $10/ton lower from the initial offer,” market sources told SSESSMENTS.COM on June 1.
“Our sell idea is between $850-900/ton for Southeast Asia origin HDPE Film cargoes, which is supported by firm feedstock prices and the absence of sales pressure from the suppliers. However, we think that by mid-July we might see some U-turn in prices if the uptrend goes too fast,” a global trading house informed on June 1.
“There is resistance towards higher prices as overall demand for HDPE Film is still not strong in Thailand. Overall demand for the end-products is still not improving significantly as the agricultural sector is still struggling as well. We predict customers will keep their purchases on an as-needed basis to anticipate sudden changes in the market.” a Thai-based trader shared their view to SSESSMENTS.COM.
“Our offers for HDPE Film to Indonesia market for this week stands at $800-810/ton on LC at sight, CIF Main Port basis, up by $20-25/ton from last week. Feedback remains quiet as today is the first working day in Indonesia. Allocation for HDPE Film is very limited due to the ongoing shutdown at our plant since last week,” a Thai producer revealed on June 2.
“We think offers at $830-860/ton level for Middle East origin HDPE Film are only applicable for re-exporters which can claim the import duty. For Southeast Asian HDPE Film cargoes, any offers above $900/ton-level will be unworkable for now,” a Vietnamese trader shared their view to SSESSMENTS.COM.
“HDPE Film offers for June shipment from the leading Saudi polyolefins producer are surprisingly high at $840/ton, which is up by $80/ton on monthly comparison. For the raw materials, we do not think demand is strong, although end-product demand from our end is actually quite steady. In terms of outlook, import PE prices would remain firm in the short-term; but for the long-term, it is hard to gauge,” a Vietnamese converter commented on June 2.
“Offers for Middle East origin HDPE Film for this week stand at $770/ton on LC at sight, CIF Indonesia Main Port Basis. We managed to sell at $20/ton lower than the initial offer level,” a global trading house informed on June 4.
“We received import offers for Thailand origin HDPE Film cargoes at $850/ton on LC at sight, CIF Indonesia Main Port basis. As we plan to bid at $830-840/ton, we also push the production rate to 100% as demand for end-product gradually improves since mid-May,” an Indonesia-based converter told SSESSMENTS.COM.
“Middle Eastern producers are still quoting stable prices at $840-860/ton on LC at sight, CIF Vietnam Main Port basis and told that they do not have much quantity to offer. We do not think that the price can maintain at these high levels as the overall demand is not strong yet; we expect to see some downward adjustment coming towards the end of June,” a Vietnamese converter commented on June 5.
“Many elements are playing out in this week's market activities. Firstly, some customers still have not resumed production post-Eid-holiday owing to slow demand for the end-products. Secondly, higher spot prices were only workable for Vietnam as their market is doing much better as compared to other Southeast Asian countries. Thirdly, it is a bit risky and too early for customers to place orders for July shipment. The outlook is cautiously optimistic as prices would be more or less stable in near time, but the market is still going to be very volatile following the intensifying tension between China and the US, which might also affect the polymers market onwards,” a market player told SSESSMENTS.COM.
