- Middle East origin $770-840/ton
- Southeast Asia origin $820-900/ton
- North America origin $780-830/ton
Comments by market players on LLDPE Film C4 market as follows:
“We received import LLDPE Film C4 offers of Philippines origin at $820/ton on LC at sight, CIF Indonesia main port basis. We were planning to secure some materials from the Philippines producer, however, the producer has sold out all of the allocations. Unfortunately, we did not get any materials,” A converter in Indonesia told SSESSMENTS.COM on June 9.
Similarly, a global trading house also stated, “We have sold out all of the allocations for LLDPE Film C4 of Thailand origin. Indonesian buyers are still submitting inquiries, however, we could not meet the demand.”
A regional trader in Indonesia explained, “Buyers in Indonesia are looking for import materials since the leading polyolefins producer in the country is having limited allocation due to backlogs to the export market. Besides, the producer had an unplanned shutdown for two weeks. Hence, the producer has limited offers for the spot market. Added to that, buyers have the confidence to procure import cargoes on the back of stronger local currency towards the U.S Dollar and the Custom Duty Borne by Government (BMDTP) has been issued by the Indonesian government. From our end, we have sold out all of the imported materials. LLDPE Film C4 of Middle East origin sold between $820-830/ton, while for U.S cargoes shipped from Malaysia sold at $820/ton, all on LC at sight, CIF Indonesia main port basis.”
“One of the local PE producers in Thailand has adjusted up the offers for LLDPE Film C4 by THB500/ton ($16/ton) as compared to last week. From our end, we decided to maintain the offers stable over the week despite the upward price adjustment from the producer, since we still have some materials purchased at a lower level. However, even though we are offering lower than the producer’s price list, there are not many fresh orders coming in so far. Most converters are having sufficient inventory on hand and not in a hurry to replenish their stock. The overall demand for PE is still slow. Firm offers from the producer are only supported by tight supply from the producer’s end and the uptrend in monomer costs. As such, we doubt that the uptrend on PE prices could sustain,” said a distributor in Thailand to SSESSMENTS.COM.
On June 10, a converter in the Philippines contacted by SSESSMENTS.COM revealed, “The local PE producer in the country has increased offers for LLDPE Film C4 by PHP2,000/ton ($40/ton) as compared to last week. The producer is having limited supply at the moment as the company has been selling a lot of cargoes to the China market since the end of last month. Currently, offers for LLDPE Film C4 from the producer is between PHP52,000-54,000/ton ($1,031-1,071/ton) depending on the payment term, including 12% VAT. From the import market, significant increases captured on US LLDPE Film C4 prices. Last month the offers stood between $640-670/ton, currently, the offers are at $790-800/ton on LC at sight, CIF Philippines main port basis. We think the current offers are competitive, but we are a little bit worry with the long lead time.”
A Vietnamese trader revealed, “Import LLDPE Film C4 offers from the leading Saudi polyolefins producer has increased by $40/ton from last week’s level, now at $840/ton on LC at sight, CIF Vietnam main port basis. The producer claimed that the allocation is limited. For US cargoes, LLDPE Film C4 offers increased between $20-40/ton compared to the same period, at $800/ton on LC at sight, CIF Vietnam main port basis. Demand for all grades of PE is still subdued as buyers are still unable to accept the high prices, coupled with sufficient inventory on hand.”
A market source informed SSESSMENTS.COM pertaining to the import PE cargoes of Middle East origin to Malaysia, “Import LLDPE Film C4 of Middle East origin to Malaysia has increased between $30-40/ton as compared to last week’s level. Buyers show better buying sentiment as compared to two to three weeks ago. The producer decided to adjust up the offers due to the uptrend in the international market, as well as the improvement in demand for the end-products. Even though buyers are still not procuring in a big volume, the number of inquiries has increased. Some buyers are procuring materials in anticipation of higher prices, while some others started to replenish raw materials following the improvement in end-products demand.”
