- Middle East origin $850-920/ton
- Southeast Asia origin $880-920/ton
- North America origin $820-880/ton
Comments by market players on LLDPE Film C4 as follows:
The leading Indian petrochemical producer reported to SSESSMENTS.COM, “We are offering LLDPE Film C4 to the Southeast Asia market at $880/ton. There is no price comparison available since recently, we were not offering to the region. So far, customers have submitted bids at $850-860/ton. We have not confirmed the bids yet as we are aiming to conclude deals at $870/ton at the lowest. All offers on LC at sight, CIF Southeast Asia Main Port basis. Pertaining to the market condition, PE demand in Southeast Asia is considered as lukewarm. While for the outlook, we think that there is still a possibility for PE price to increase further. Although ethylene price has dropped by around $100/ton this week the price is still at a high level. Moreover, the global price trend remains on an upward trend and crude oil is still relatively stable. Hence, PE offers will most likely remain firm.”
“On a weekly comparison, import LLDPE Film C4 offers from the leading Saudi polyolefins producer were recorded stable at $910/ton on LC at sight, CIF Philippines Main Port basis. The cargoes will be shipped from Singapore and such a level is considered unworkable as we will still have to pay for 3% customs duty. Meanwhile, the offers for US LLDPE Film C4 were captured at $20/ton higher compared to a fortnight ago with a direct shipment from the US. Demand-wise, the orders for plastic packaging are still ongoing yet the main issue is fulfilling the customers’ orders due to the lack of manpower. Currently, the operating rate is still kept at 60-70% from the normal rate. For the outlook, we think that PE price should have moved lower as the current price level is too high while the demand could not be considered as robust yet,” a Philippines converter informed.
Market sources stated that “A Middle Eastern producer still has no materials to offer this week, yet the producer is still quoting prices. Compared to two weeks ago, the offers for LLDPE Film C4 from the producer were kept stable. The producer also mentioned that the headquarters should have moved most allocation to the China market, utilizing the issue of delayed Iranian cargoes. Hence, the allocation for the Southeast Asia market for this week is limited to none. The producer’s allocation for LLDPE Film C4 is only around 100-200 tons.”
“We received import Indian LLDPE Film C4 via a global trading house at $880/ton on LC at sight, CIF Malaysia Main Port basis. There is no comparison available as we have not received import offers from India origin for quite some time. However, the offers are too high; the acceptable price level should be only around $830/ton-level. Additionally, we think we have to be careful in procurement activity as there are a lot of speculations going on in the China market at the moment. Moreover, the demand for finished products is still relatively slow. Hence, we want to keep the inventory at a low level. Regarding the outlook, we prefer to monitor the market movement at the moment,” a Malaysian converter stated to SSESSMENTS.COM.
“Compared to a week earlier, the offers for import PE cargoes of US and Middle East origins to Indonesia market were maintained stable. We bought Saudi LLDPE Film C4 cargoes at $850-855/ton and managed to sell it at $870/ton to the Vietnam market. For Singaporean LLDPE Film C4, we received offers at $900/ton and offered to the customers at $20/ton higher. Meanwhile, the offers for US LLDPE Film C4 cargoes were available at $880/ton with shipment from Port Klang, Malaysia. However, we did not take the cargoes,” an Indonesian trader revealed.
Transactions for import LLDPE Film C4 between July 6 to July 10 on CIF Main Port basis
Description: *Shipment from Singapore **Shipment from Port Klang, Malaysia ***August shipment offers ****Estimation time arrived September
Tags: Asia Pacific,English,News,PE,SEA
Published on July 13, 2020 12:00 PM (GMT+8)
Last Updated on July 13, 2020 12:00 PM (GMT+8)