News Code : 42970

Petrotahlil :
SEA’s PE market remains weak amid bearish China
• Mid-Eastern PE prices decline $10-40 
• SEA producer cuts June LDPE prices by $40 to region 
• Trading limited ahead of Eid holiday 
• Saudi major applies hefty drops for June to China 
• Spot ethylene visibly down on week
• Mid-Eastern PE ($/ton): HDPE film 1060-1080 | LDPE film 1020-1030 | LLDPE film 980-1030 CIF 
• US PE ($/ton): HDPE film 1050 | LDPE film 1020 | LLDPE film 950-970 CIF

 

Saudi major applies up to 3-digit drops on PE offers to China
• Price ranges for import PE down $10-30
• Growing trade tensions weigh on demand 
• Oversupply concerns back on stage 
• Buyers place $20-30 lower bids 
• LLDPE futures stable on week 
• Spot ethylene prices move lower in Asia
• Import dutiable PE ($/ton): HDPE film 1030-1080 | LDPE film 990-1050 | LLDPE film 950-980 CIF

 

PE players sidelined ahead of June ethylene in Europe
• June C2 awaited among players 
• Expectations call for rollovers to small up and down variations 
• Lower naphtha, feeble demand put pressure on the market 
• Rising spot ethylene might push C2 contracts up 
• Demand is weak amid sufficient supply
• Local spot (€/ton): LDPE film 1120-1210 | LLDPE film 1070-1150 | HDPE film, b/m 1160-1270 | HDPE inj. 1160-1250 FD

 

June PE outlook under discussion amid divergent factors in Italy
• Previous expectations slightly revised 
• June PE trend may see stability to small variations 
• C2 awaited stable to €10 up or down; PE prices to follow suit 
• Flimsy demand, lower naphtha cool off previous firmer sentiment 
• PE producers might issue small increases
• Local spot (€/ton): LDPE film 1110-1170 | LLDPE film 1080-1150 | HDPE film, b/m 1160-1280 FD

 

Bearish sentiment prevails in Mid-Eastern PE markets
• May deals concluded steady to soft 
• Demand remains lackluster amid comfortable supplies 
• Stable to soft expectations for June given sluggish buying
• Local PE in S.Arabia ($/ton): LDPE 1030-1040 | LLDPE 1030 | HDPE 1100 FD
• Import PE in UAE ($/ton) LDPE 1090 | LLDPE 1130 | HDPE 1100-1130 CIF

 

Turkey’s PE market closes May on a weak note
• Traders issue additional drops 
• Korean HDPE down further by $40 
• Weak expectations reinforced for post-Eid 
• Local PE decline as holiday mood kicks in 
• Saudi major issues June drops to China
• US ($/ton): LDPE 1040 | LLDPE 980-1010 | HDPE film 1050-1090 CIF 
• Mid-East ($/ton): LDPE 1060-1070 | LLDPE 1030 | HDPE film 1100 CIF 
• Local ($/ton): LDPE 1410-1440 | LLDPE 1320-1350 | HDPE film 1420-1440 inc VAT

 

Expectations for June mixed among African PE players
• Offers stable, little change expected until after Eid 
• Upcoming holiday, rainy season keep buying to minimum
• Imports in Algeria ($/ton): HDPE 1150-1160 | LLDPE 1130 | LDPE 1160 CIF 
• Imports in Kenya ($/ton): HDPE 1170-1190 | LLDPE 1080 | LDPE 1150 CFR

 

Egypt’s PE market outlook soft on poor activities
• Import prices stable, June offers awaited stable to down 
• Distribution market levels steady to soft amid thin activities 
• Long supplies, poor demand keep expectations bearish 
• USD/EGP exchange rate continues to decline
• Import PE ($/ton): HDPE 1100-1210 | LDPE 1030-1140 | LLDPE 1020-1060 CIF
 
 
END 

 

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