News Code :
42565
PRICE OF PE AROUND THE WORLD
Petrotahlil:
Regional suppliers lift PE offers in SEA, eyes on China
• Initial April offers for import PE up $20-30
• Suppliers point to strong crude oil and naphtha
• SE Asian buyers cautious amid faltering sentiment in China
• Upcoming elections in some countries subdue demand
• Ethylene continues to pare its earlier losses
• Mid-Eastern PE ($/ton): HDPE film 1080-1120 | LDPE film 1050-1090 | LLDPE film 1030-1070 CIF
• US PE ($/ton): HDPE film 1020 | LDPE film 1010-1020 | LLDPE film 980-1000 CIF
PE surrenders to subdued demand in China
• LLDPE futures down CNY245 on week
• Local polyolefin supplies still ample
• VAT cut curbs demand for prompt PE
• Spot ethylene extends its recovery
• Crude oil, naphtha hit their highest since Nov
• Import dutiable PE ($/ton): HDPE film 1090-1150 | LDPE film 1040-1060 | LLDPE film 1040-1060 CIF
European PE players anticipate a stable to firmer trend for April
• March business mostly concluded €30 up
• Demand cools off ahead of expected C2
• April PE expectations emerge stable to firmer
• Higher energy complex might push April C2 up
• Some players foresee rollovers in PE amidst weak demand, ample supply
• Local spot (€/ton): LDPE film 1040-1110| LLDPE film 1020-1090 | HDPE film, b/m 1120-1200 FD | HDPE inj. 1120-1190 FD
PE players sidelined ahead of April C2 settlement in Italy
• €30 increases continued to pass on March deals
• Stable to firmer expectations gain prominence for April
• April C2 expected €10-20 higher on rising costs
• Players: PE prices might post rollovers to small hikes
• Weak fundamentals, April festivities might hinder possible hikes
• Local spot (€/ton): LDPE film 1030-1100 | LLDPE film 1000-1100 | HDPE film, b/m 1120-1200 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
Early April expectations voiced in Turkey’s PE market
• Players sidelined prior to elections, April offers
• Sentiment backed by gains in crude, naphtha
• Softening PE prices in China are monitored
• Turkey still lacks premium over China
• US ($/ton): LDPE 1020-1030 | LLDPE 1010-1020 | HDPE film 1090-1100 CIF
• Mid-East ($/ton): LDPE 1030-1050 | LLDPE 1010-1040 | HDPE film 1080-1120 CIF
• Local ($/ton): LDPE 1415-1450 | LLDPE 1370-1420 | HDPE film 1420-1480 inc VAT
Will African PE markets see recovery in April?
• Markets quieten down as March deals wrap up
• Long supplies add to softer expectations
• Prices remain flat from initial levels
• Imports in Nigeria ($/ton): LDPE 1080-1130 | LLDPE 1030 | HDPE 1170 CFR
• Imports in Kenya ($/ton): LDPE 1100 | HDPE 1130-1180 CFR
Egypt’s PE players start wrapping up March deals
• Local PE prices stable to EGP100-300 softer
• Import PE market stable on a weekly basis
• EGP maintains its strength against the greenback
• Players voice stable to firmer expectations for April
• Import PE ($/ton): HDPE 1100-1190 | LDPE 1010-1070 | LLDPE 980-1030 CIF
