News Code : 43209

Petrotahlil :

PE stays stable to soft amid weak sentiment in China
• Saudi major cuts Aug offers by $10-30 
• Local suppliers open to extra discounts in deals 
• LDPE sentiment better than LLDPE, HDPE 
• LLDPE futures slightly up on week
• Mid-Eastern PE ($/ton): HDPE film 980-1020 | LDPE film 980-1020 | LLDPE film 900-935 CIF
 
Shutdowns keep PE largely stable in SEA
• Suppliers try to maintain a firm stance on prices 
• Chandra Asri shuts PE plants, local prices up in Indonesia 
• Trading thin as buyers resist current offer levels 
• Manufacturing growth in ASEAN sinks to 2 year-low 
• China PE sentiment remains weak
• Mid-Eastern PE ($/ton): HDPE film 1010-1070 | LDPE film 1000-1030 | LLDPE film 940-980 CIF 
• US PE ($/ton): HDPE film 940-970 | LDPE film 980-990 | LLDPE film 920-940 CIF
 
Will higher Aug C2 defy weak PE fundamentals in Italy?
• Aug C2 settled €10 higher 
• Expectations are now calling for a stable to firmer trend for PE 
• Producers are likely to issue increases on higher C2, margins recovery 
• Buyers foresee rollovers for Aug on summer lull 
• Fresh Aug offers will emerge as of next week
• Local spot (€/ton): LDPE film 970-1060 | LLDPE film 980-1050 | HDPE film, b/m 1030-1140 FD
 
Aug C2 settles firmer, European players wait for fresh PE offers
• Aug C2 agreed €10 up 
• Players expect possible increases on PE
• Producers might issue hikes for margin recovery 
• Buyers don’t exclude possible rollovers in deals 
• Weak PE fundamentals still weigh on the market
• Local spot (€/ton): LDPE film 1000-1090| LLDPE film 1000-1060 | HDPE film, b/m 1030-1150 FD | HDPE inj. 1020-1130 FD
 
Turkey’s PE market looks for direction amid opposite factors
• Aug C2 edges up in Europe, surprises players 
• Import HDPE, LLDPE below $1000 CFR on average 
• Mid-Eastern source returns with discounts 
• US PE supply abundant except for LDPE 
• H1 imports for LDPE, HDPE sink to lowest in 10 years
• US ($/ton): LDPE 970-980 | LLDPE 920-930 | HDPE film 900-940 CIF 
• Mid-East ($/ton): LDPE 980-1000 | LLDPE 940-950 | HDPE film 970-980 CIF 
• Local ($/ton): LDPE 1310-1380 | LLDPE 1200-1290 | HDPE film 1310-1360 inc VAT
 
PE players wait for August pricing discussions in Mid-East
• Aug expectations for rollovers to decreases 
• Demand remains slow on tight cash 
• No supply concerns reported
• Local PE in S. Arabia ($/ton): LDPE 1020 | LLDPE 970 | HDPE 1030 
• Import PE in UAE ($/ton): LDPE 1040-1050 | LLDPE 1020-1060| HDPE 1040-1050 CIF
 
Local PE producers announce drops for Aug in Egypt
• Import offers unchanged 
• Domestic producers cut offers as much as EGP1500 
• Local offers steady to EGP200-500 softer 
• Limited trading activities, supplies long
• Import PE ($/ton): HDPE 1050-1060 | LDPE 980-1060 | LLDPE 940-1000
 
Aug PE offers see rollovers to decreases on weak activities in Africa
• Weak activities persist across the continent 
• ELEME’s offers lower by around $41-55 
• More producers expected to follow similar pricing strategies 
• Rebound in C2 costs fail to support prices
• Import PE in Morocco ($/ton): LDPE 1069| LLDPE 952 CIF 
• Import PE in Kenya ($/ton): LDPE 1130 | LLDPE 1030| HDPE 1070-1080 CFR

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