News Code : 43004

Petrotahlil : Competitive imports weigh on local PE markets in SEA • Import PE sees additional drops of $10-20 • Indonesian producer applies further drops on local offers • Thai producer cuts local PE prices • Local prices extend losses into June in Vietnam • Malaysian, Indonesian markets quiet due to Eid holiday • Weaker upstream chain puts pressure on PE • Mid-Eastern PE ($/ton): HDPE film 1040-1060 | LDPE film 1010-1020 | LLDPE film 970-1020 CIF • US PE ($/ton): HDPE film 1010-1050 | LDPE film 1000-1020 | LLDPE film 950-1000 CIF

China’s PE market remains bearish on sluggish demand

• Import PE declines further by $10-30 

• Concerns about trade war intensifies 

• Uncertain economic outlook dampens demand 

• LLDPE futures drop CNY360 on week 

• Spot ethylene hits 5-month low in Asia 

• Oil prices plunge further

• Import dutiable PE ($/ton): HDPE film 1010-1080 | LDPE film 980-1020 | LLDPE film 930-960 CIF

 

Stable C2 paves the way for rollovers in European PE market

• Initial June offers mostly revealed stable 

• Buyers cautious with fresh deals at the moment 

• Stable to softer expectations prevail for PE deals 

• PE weak fundamentals might lead to small discounts 

• Sellers are open to negotiate their prices

• Local spot (€/ton): LDPE film 1120-1210 | LLDPE film 1070-1150 | HDPE film, b/m 1150-1270 FD | HDPE inj. 1160-1260 FD

 

Producers seek stability for June PE in Italy

• Initial PE offers show up with rollovers 

• Buyers are still searching the market 

• Weak fundamentals, lower energy put prices under pressure 

• Supply is comfortable amid flimsy demand 

• Converters expect to close June deals stable to softer

• Local spot (€/ton): LDPE film 1130-1170 | LLDPE film 1070-1140 | HDPE film, b/m 1140-1270 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

 

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