News Code : 42530

Petrotahlil:
⚫Mid-Eastern sellers insist on PE hikes in SEA despite demand. 
• Resistance built on buyers’ side 
• US PE continues to provide competitive edge 
• Ethylene rebounds after seeing large declines 
• Crude oil futures firmer 
• Local PE markets chasing a firm path
• Mid-Eastern PE ($/ton): HDPE film 1080-1130 | LDPE film 1050-1090 | LLDPE film 1030-1070 CIF 
• US PE ($/ton): HDPE film 1020 | LDPE film 1020 | LLDPE film 1000-1020 CIF. 

 

⚫Overseas PE suppliers’ hike attempts meet with resistance in China. 
• Import PE stable to slightly up 
• Demand from converters remains thin 
• Ample supplies weigh on sentiment 
• LLDPE futures down CNY80 on week 
• Spot ethylene rebounds after hefty drops
• Import dutiable PE ($/ton): HDPE film 1090-1170 | LDPE film 1040-1060 | LLDPE film 1040-1090 CIF. 

 

⚫March PE deals mostly match C2 hike in Europe. 
• €30 increases are passing on March deals 
• Only a few sellers achieved €40 hikes so far 
• Hike requests of €50 did not find acceptance 
• Low demand, ample supply hindered larger hike attempts 
• PE prices are not expected to post major changes for H2 March
• Local spot (€/ton): LDPE film 1030-1120| LLDPE film 1010-1100 | HDPE film, b/m 1110-1200 FD | HDPE inj. 1110-1190 FD. 

 

⚫Weak demand, ample supply limit increases on March PE in Italy. 
• Initial PE deals closed mainly with €30 hikes 
• Sellers’ initial hike attempts of €50 fail on weak fundamentals 
• LDPE prices face more pressure, €20 hikes pass on a few deals 
• PE prices expected to remain on their current levels for H2 March 
• Early voices for April are stable to firmer
• Local spot (€/ton): LDPE film 1030-1100 | LLDPE film 1000-1090 | HDPE film, b/m 1130-1200 FD. 

 

⚫Mid-Eastern players receive March PE offers steady to higher. 
• Saudi major’s March offers to local market roll over 
• Emirati producer also keeps local prices unchanged 
• Supplies sufficient across the region 
• Buyers aim for discounts on limited demand
• Local PE in S.Arabia ($/ton): LDPE 1020 | LLDPE 1010 | HDPE 1069-1070 FD 
• Import PE in UAE ($/ton): LDPE 1090-1100 | LLDPE 1050-1080 | HDPE 1120-1150 CIF. 

 

⚫Turkey’s local PE market reaches 3-month high. 
• LDPE, LLDPE firmer on limited Mid-East volumes 
• American PE prices remain sporadic 
• Iranian sources out of market ahead of Newroz 
• Saudi major steps back for HDPE film on resistance
• US ($/ton): LDPE 1020-1030 | LLDPE 1010-1020 | HDPE film 1050-1070 CIF 
• Mid-East ($/ton): LDPE 1030-1050 | LLDPE 1010-1040 | HDPE film 1080-1110 CIF 
• Local ($/ton): LDPE 1415-1450 | LLDPE 1370-1420 | HDPE film 1420-1480 inc VAT. 

 

⚫Africa’s PE markets receive steady to softer offers for March. 
• ELEME rolls over March offers 
• Ample supplies, poor demand pressure markets 
• Discounts expected amidst lower costs
• Imports in Nigeria ($/ton): LDPE 1080-1130 | LLDPE 1030 | HDPE 1170 CFR 
• Imports in Kenya ($/ton): LDPE 1100 | HDPE 1130-1180 CFR

 

⚫More Mid-Eastern suppliers unveil March PE offers to Egypt. 
• Sluggish demand, ample supplies weigh on local market 
• Local HDPE film, b/m prices down by EGP100-500 
• New Mid-Eastern offers surface at relatively competitive levels 
• Buyers place lower bids, suppliers show resistance
• Import PE ($/ton): HDPE 1100-1190 | LDPE 1010-1070 | LLDPE 980-1030 CIF

 

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