SSESSMENTS.COM was informed that a Thai PE producer made a step back after attempting price adjustments in the China market. On Monday, April 13, the producer significantly increased offers for HDPE Film and LLDPE Film C4. Compared to the offers in the previous week, offers for the grades were adjusted up by $150/ton and $80/ton, respectively. The adjustments were made to follow the local price movement.
A day later, the producer decided to trim offers for HDPE Film by $20/ton and LLDPE Film C4 by $30/ton compared to Monday’s levels. The producer told SSESSMENTS.COM that the decision to reduce offers was made as LLDPE futures prices declined and buying sentiment weakened. Unlike offers to China, the producer maintained offers to Indonesia at stable levels compared to last week. The offers were much lower compared to offers to China, except for LDPE Film. The producer reasoned that the Indonesia market is muted due to the large-scale social distancing that started on Friday (April 10).
According to SSESSMENTS.COM’s data, Thailand is one of the top five HDPE suppliers to China. In 2019, the volume of HDPE cargoes imported by China from Thailand was 701,766 tons, recording a market share of 5.24%. For LLDPE, Thailand stood as the third top supplier. In the same year, China imported 768,036 tons of LLDPE cargoes from Thailand. The market share for Thai LLDPE in China was 11.59%.
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Import PE offers on LC at sight, CIF main port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Thailand | HDPE Film | Offer Given | 950 | China |
| Thailand | HDPE Film | Offer Given | 930* | China |
| Thailand | HDPE Film | Offer Given | 740 | Indonesia |
| Thailand | HDPE Film | Buy Idea | 700 | Indonesia |
| Thailand | HDPE Film | Offer Received | 960 | China |
| Thailand | LLDPE Film C4 | Offer Given | 850 | China |
| Thailand | LLDPE Film C4 | Offer Given | 820* | China |
| Thailand | LLDPE Film C4 | Offer Given | 740 | Indonesia |
| Thailand | LLDPE Film C4 | Buy Idea | 700 | Indonesia |
| Thailand | LLDPE Film C4 | Offer Received | 850 | China |
| Thailand | LLDPE Injection | Offer Given | 930 | China |
| Thailand | LLDPE Injection | Offer Received | 930 | China |
| Thailand | LDPE Film | Offer Given | 880 | China |
| Thailand | LDPE Film | Offer Given | 910 | Indonesia |
| Thailand | HDPE Yarn | Offer Given | 850-890 | China |
| Thailand | HDPE Yarn | Offer Given | 740 | Indonesia |
| Thailand | HDPE Pipe (PE 100) | Offer Given | 890 | Indonesia |
| Thailand | HDPE Blow Moulding | Offer Given | 740 | Indonesia |
| Thailand | HDPE Injection | Offer Given | 740 | Indonesia |
| Thailand | mLLDPE C6 | Offer Given | 900 | Indonesia |
Description: *Offers after adjustments
September 2020 Futures Price Settlement on Dalian Commodity Exchange (DCE) between April 1-14
| Date | Dalian LLDPE Settlement (CNY/ton) |
|---|
| 1-Apr-2020 | 5,515 |
| 2-Apr-2020 | 5,695 |
| 3-Apr-2020 | 5,830 |
| 7-Apr-2020 | 6,060 |
| 8-Apr-2020 | 6,005 |
| 9-Apr-2020 | 6,000 |
| 10-Apr-2020 | 6,130 |
| 13-Apr-2020 | 6,395 |
| 14-Apr-2020 | 6,215 |
Tags: Asia Pacific,China,English,Indonesia,NEA,News,PE,SEA,Thailand
Published on April 15, 2020 2:18 PM (GMT+8)
Last Updated on April 15, 2020 2:19 PM (GMT+8)
