- Middle East origin $880-930/ton
- North America origin $880-900/ton
- Southeast Asia origin $900-960/ton
Comments by market players on HDPE Film as follows:
Market sources contacted by SSESSMENTS.COM said, “A Middle Eastern producer is no longer offering for July shipment as the allocation has been sold out since the week commencing June 22. Compared to the done deal level in the week commencing June 15, the deals for HDPE Film were concluded at $30/ton higher. Despite the sold-out allocation, the producer revealed that there were some customers who were still asking for materials for July shipment, even until the week ending July 3. Sources mentioned that the producer tried to get additional volume from the headquarters to fulfil at least 30% of the inquiries. However, the chance is small and most likely, customers will only get a very small volume to none as the supply is tight. Moreover, the producer reportedly still has some backlogs to clear. In Malaysia, the robust demand is supported by the limited supply from both local producers while the businesses in the downstream market continue to improve. As such, there is an imbalance of demand and supply. Sources also added that in general, Middle Eastern suppliers have limited supply due to reduced operating rate. Considering the situation, the producer predicts that PE price will remain firm in the near term as supply expected to remain tight and business will continue to improve.”
“For this week, our company noted that the import PE prices to the Southeast Asia market continue to rally following the firm international price trend. Compared to a week earlier, the offers for import Thai HDPE Film to Southeast Asia are around $30-50/ton higher. At the moment, most traders are attempting to push HDPE Film offers to $950/ton-level. However, the response is rather cold and deals concluded remain limited as the offers are high. Deals were mostly concluded to the Indonesia market as there is supply shortage in the country especially for LLDPE grades,” a Thailand-based trader stated.
Whereas in Vietnam, a trader commented to SSESSMENTS.COM, “Compared to last week, the offers for import HDPE Film cargoes from the leading Saudi polyolefins producer are stable at $910/ton on LC at sight, CIF Vietnam Main Port basis. The current import PE prices in Vietnam is highest among the other Southeast Asian countries. Although the demand is stable, buyers are showing resistance towards the high prices. As such, sales are rather slow. While for the outlook, we think that import PE prices will remain firm in the near term considering the strong crude oil and monomer prices.”
An Indonesian trader also revealed, ”For the week commencing June 29, import HDPE Film offers of the Middle East and US origin generally increased by $20/ton on a weekly comparison. For Middle Eastern HDPE Film, we bought some volume at $880/ton and managed to sell it at $900/ton. Similarly, we purchased US HDPE Film at $880/ton and sold at $900/ton to both Indonesia and Vietnam market. All offers on LC at sight, CIF Main Port basis. Regarding the shipment, Middle Eastern cargoes will be shipped directly from the Middle East while US cargoes will be shipped from Port Klang, Malaysia.”
