News Code : 43142

PE extends modest gains into 3rd week in China

• Import prices up $10-20 on week 

• Demand continues to improve slowly 

• LLDPE futures see weekly drop of CNY100 

• Crude oil futures hit highest level since May

• New capacities weigh on medium-term outlook

• Import dutiable PE ($/ton): HDPE film 980-1020 | LDPE film 940-1010 | LLDPE film 900-950 CIF

 

Improving demand supports PE sellers’ firm stance in SEA

• Mid-Eastern PE offers stable to $10-20 firmer 

• Ample supplies keep US PE under pressure 

• Surging crude oil futures also boost sentiment 

• Vietnam’s demand better compared to other SEA countries 

• Thai market slightly up THB500-1000 on week

• Mid-Eastern PE ($/ton): HDPE film 1000-1070 | LDPE film 980-1040 | LLDPE film 920-990 CIF 

• US PE ($/ton): HDPE film 980-990 | LDPE film 980-1000 | LLDPE film 890-940 CIF

 

Bearishness gains speed in Italy’s PE market for July

• €75-80 drops start to pass on July deals 

• Suppliers concede to further small discounts 

• Demand slightly improves on buyers’ replenishing activity 

• PE fundamentals remain weak 

• US LLDPE emerges at competitive level

• Local spot (€/ton): LDPE film 1020-1060 | LLDPE film 980-1050 | HDPE film, b/m 1030-1140 FD

 

PE dealt in line with or exceeding July C2 drop in Europe

• PE deals closed with €75-80 decreases 

• Overall demand remains weak ahead of summer holidays 

• HD prices hit lowest levels since mid-Aug 2017 

• Further small drops might be possible later in the month 

• Early Aug voices emerge on a stable note

• Local spot (€/ton): LDPE film 1000-1100| LLDPE film 1010-1050 | HDPE film, b/m 1040-1150 FD | HDPE inj. 1050-1140 FD

 

Turkey’s PE market looks for direction

• Further but small discounts arose 

• Sellers: Inquiries are higher 

• Buyers: Sellers reluctant to accept lower bids 

• Offers from Europe showed up 

• Import LLDPE, HDPE still trade at a discount to China

• US ($/ton): LDPE 970-980 | LLDPE 910-930 | HDPE film 940-1000 CIF 

• Mid-East ($/ton): LDPE 1000-1020 | LLDPE 940-990 | HDPE film 1000-1020 CIF 

• Local ($/ton): LDPE 1330-1380 | LLDPE 1210-1290 | HDPE film 1320-1380 inc VAT

 

Initial July PE offers revealed softer in Mid-East

• Saudi producer reveal lower offers to local market 

• Demand remains flat across region 

• Availability is not a concern amid sluggish activities

• Local PE in S.Arabia ($/ton): LDPE 1020 | LLDPE 970 | HDPE 1030 FD 

• Import PE in UAE ($/ton): LDPE 1040-1050 | LLDPE 1020-1060 | HDPE 1040-1050 CIF

 

Egypt’s PE markets remain on downtrend

• More ME suppliers unveil softer offers 

• High stock levels amid limited buying interest 

• PE markets defy the recent monomer gains

• Import PE ($/ton): HDPE 1050-1060 | LDPE 1000-1060 | LLDPE 980-1000

 

African PE players receive softer offers for July

• ELEME’s offers steady for second month in a row 

• East, West Africa receive hefty declines for July 

• Similar pattern expected in North, South Africa

• Imports in Kenya ($/ton): LDPE 1130 | LLDPE 1040 | HDPE 1070-1080 CFR

• Imports in Nigeria ($/ton): LDPE 1070 | LLDPE 1060 | HDPE 1090 CFR

 

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