- Middle East origin $820-870/ton
- North America origin $870/ton
- Southeast Asia origin $830-900/ton
Comments by market players on HDPE Film as follows:
“Compared to a week earlier, the offers for import HDPE Film cargoes from a Middle Eastern producer to Indonesia and Malaysia market surfaced with an upward increment of $20-30/ton, stand at $860-870/ton on LC at sight, CIF Main Port basis. However, most customers were submitting bids at $40/ton lower from the initial offer level. We also think that the current offers available for Middle Eastern cargoes will be deemed unworkable, and most buyers will most likely prefer to purchase regional or US cargoes that are available at bonded warehouses in Southeast Asia. Pertaining to the outlook, there is a possibility that suppliers will still keep the offers firm although we are unsure about sustainability. As such, the outlook is rather pessimistic,” market sources reported to SSESSMENTS.COM.
“To the Southeast Asia market, we are unable to sell HDPE Film at $850/ton as buyers in the Philippines and Vietnam were showing resistance towards the offers. As such, deals were concluded at $830/ton. All on LC at sight, CIF Main Port basis. We were only willing to sell at $20/ton lower considering the limited allocation. While to the Indonesia market, we announced July shipment offers on June 18 with an upward adjustment of $140/ton from a month earlier for HDPE Film,” a Malaysian producer informed.
A Philippines trader also commented, “We managed to sell HDPE Film cargoes from a Singaporean producer at $860/ton for June Shipment. However, the overall response was considered lukewarm as HDPE Film cargoes from a Malaysian producer are being sold at $830/ton at the same time. All on LC at sight, CIF Philippines Main Port basis. For import HDPE Film cargoes of Thailand origin, the offers increased by $20/ton from a week ago, and deals were concluded at $5/ton lower. We think most suppliers were trying to utilize the current momentum of firm feedstock prices to increase offers. However, there is a possibility for PE prices to move lower in July as the current offer available in the market is considered too high while demand is not that robust.”
“We decided to adjust import offers for HDPE Film to Indonesia between $10-20/ton taking into account the relatively tight supply for the grade, with the offers are available at $870/ton on LC at sight, CIF Indonesia Main Port basis. The second wave of Coronavirus in China has dampened the buying sentiment in Indonesia, as such, buyers were submitting bids at $50-70/ton lower than the initial offer level. However, we rejected the bids as such a level is too low. While for the shipment, HDPE Film cargoes are expected to arrive in early August,” a Thai PE producer revealed to SSESSMENTS.COM.
In Vietnam, a converter stated, “We received import offers for Saudi HDPE Film cargoes for July shipment at $850-860/ton on LC at sight, CIF Vietnam Main Port basis. However, we decided not to make any purchases this week as the offers are too high. Although the finished product demand from our company’s end remains satisfactory, we think that the price increases are too much. As such, we prefer to wait whether the producer is going to reduce the offers in the days to come.”
