New Offers For Import PE Cargoes In Australia Market Elicited Various Responses
- Some deals concluded for HDPE Blow Moulding, mLLDPE C6 cargoes
- A Thai producer cuts allocation for HDPE Blow Moulding by up to 50%
- Players shared a positive outlook for pricing
Market sources informed SSESSMENTS.COM about new offers for PE cargoes from foreign suppliers this week. From Thai producers, the offers for HDPE Blow Moulding and HDPE Pipe Black (100) emerged at $775-840/ton and $880-885/ton, respectively. The offers for HDPE Blow Moulding from the producers for the Australian market is reportedly stable from last week, while HDPE Pipe Black (100) prices from one of the producers increased by $85/ton compared to a fortnight ago. Done deals for HDPE Blow Moulding achieved the initial offer levels at $775-840/ton. While for HDPE Pipe Black (100), the trader skipped procurement for this week as the company has made a deal two weeks ago before the prices surged. For mLLDPE C6, deals for US cargoes were concluded at the initial level at $980/ton for a limited volume. All offers on LC at sight, CIF Australia Main Port Basis.
Speaking of the demand, sources told SSESSMENTS.COM that the Australian market is getting better week by week. However, traders reported that the HDPE Blow Moulding allocation from a Thai producer is reduced by up to 50% compared to last week citing limited allocation due to the Thai government’s order to slash operating rate in the midst of water supply crisis in Thailand.
Looking ahead, market sources contacted by SSESSMENTS.COM opined that the pricing outlook for Australian PE market would be stable to firmer in the near future, considering the continuous improvement in demand.
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