SEA PE market largely stable ahead of Ramadan.
• Demand limited to buyers’ urgent needs
• LDPE supplies limited
• LLDPE faces downward pressure
• Local PE in Thailand slightly firms up after Songkran
• Crude oil, naphtha retreat from 6-month high
• Mid-Eastern PE ($/ton): HDPE film 1090-1120 | LDPE film 1090-1110 | LLDPE film 1050-1080 CIF
• US PE ($/ton): HDPE film 1060-1080 | LDPE film 1020-1040 | LLDPE film 1000 CIF
China’s PE imports in Q1 reach record high.
• Activity limited due to Labor Day holiday
• May PE offers from Saudi major stable to firmer
• Local PE remains under pressure from high supplies
• LLDPE demand weakest among all PE products
• China imports around 4 million tons of PE in Q1
• Import dutiable PE ($/ton): HDPE film 1100-1170 | LDPE film 1080-1100 | LLDPE film 1030-1060 CIF
European PE set to increase for third consecutive month in May.
• May C2 settled with €30 hikes
• Players expect a new round of increases for May
• LLDPE, LDPE supplies are not ample
• Market activities are calm ahead of fresh May prices
• Local spot (€/ton): LDPE film 1080-1170| LLDPE film 1050-1120 | HDPE film, b/m 1150-1240 FD | HDPE inj. 1150-1230 FD
PE market braces for further hikes in Italy after May C2 settlement.
• April spot and contracts closed €30-35 up
• May C2 settled €30 higher
• Players wait for May PE prices
• Upstream markets support sellers’ firmer expectations
• PE is set to head for the third-month of hikes
• Local spot (€/ton): LDPE film 1070-1130 | LLDPE film 1030-1100 | HDPE film, b/m 1150-1250 FD
May PE outlook squeezed between costs and demand in Mid-East.
• April PE deals mostly steady compared to initial levels
• Players at odds over possible price increases for May
• Thin demand persists amid poor end product sales
• Local PE in S.Arabia ($/ton): LDPE 1030 | LLDPE 1020 | HDPE 1060-1090 FD
• Import PE in UAE ($/ton): LDPE 1090-1120 | LLDPE 1090-1110 | HDPE 1120-1150 CIF
May PE offers tick upwards in West Africa.
• African PE players share mixed views for May
• Saudi major hikes offers to Nigeria by $20
• ELEME’s offers to local market higher by NGN10,000-12,000
• Import offers in Nigeria ($/ton): LDPE 1090-1130 | LLDPE 1080 | HDPE 1190 CIF
• Local offers in Nigeria ($/ton): LLDPE 1291 | HDPE 1346 CFR
Slow activity weighs on local PE prices in Egypt.
• Market players leave their desks for holidays
• Local prices see decreases of up to EGP1000
• Firm May outlook for import offers
• Local supplies comfortable for all grades
• Financial, political uncertainty affects purchases
• Import PE ($/ton): LDPE 1010-1110 | LLDPE 980-1050 | HDPE 1100-1210 CIF