2019/08/16 10:12:34

News Code : 43255

August PE offers surface steady to soft in the Mid-East.

http://www.petrotahlil.com/en/tiny/news-43255

Petrotahlil :

PE downturn continues in China as demand stays weak.

• Yuan devaluation hurts import demand

• CIF China offers down further by $5-20

• LLDPE, HDPE hit a fresh decade low

• Local polyolefin supplies still high

• LLDPE futures drop CNY140 in the last two sessions

• Mid-Eastern PE ($/ton): HDPE film 960-1000 | LDPE film 970-1000 | LLDPE film 890-930 CIF

Waning demand pushes PE prices lower in SE Asia.

• Import prices drop further by $20-50

• Buyers expect further reductions

• Local markets also down

• Ample supplies weigh on sentiment

• Mid-Eastern PE ($/ton): HDPE film 950-1000 | LDPE film 980-1000 | LLDPE film 900-940 CIF

• US PE ($/ton): HDPE film 900-930 | LDPE film 930-950 | LLDPE film 900-930 CIF

Downtrend comes to an end in Italy’s PE market for Aug.

• PE opens Aug on a stable to firmer note

• Producers announce small hikes on their contract prices

• Spot PE is offered with rollovers from distributors

• A few PE deals have been closed at stable levels

• Early voices emerge for a firmer September

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

Aug PE offers emerge stable to slightly firmer in Europe.

• European producers issued small hikes

• Spot PE prices remained unchanged

• PE deals are likely to be closed at stable levels

• Early voices for Sept surface firmer

• Weak PE fundamentals weigh on the market

• Local spot (€/ton): LDPE film 1000-1090| LLDPE film 1000-1060 | HDPE film, b/m 1040-1150 FD | HDPE inj. 1020-1140 FD

Turkey’s PE market entering holiday on a weak note.

• More Mid-East suppliers issue Aug drops

• Competitive US PE exerts pressure on sellers

• Slightly higher European C2 fails to boost demand

• China’s PE market weaken on trade tension, lower futures

• ChemOrbis Wizard: Crude prices plunge by 7-8% in a week

• US ($/ton): LDPE 960-970 | LLDPE 910-925 | HDPE film 890-920 CIF

• Mid-East ($/ton): LDPE 970-990 | LLDPE 930-940 | HDPE film 960-980 CIF

• Local ($/ton): LDPE 1285-1345 | LLDPE 1200-1270 | HDPE film 1300-1350 inc VAT

August PE offers surface steady to soft in the Mid-East.

• Prices roll over or decrease SAR37 in S. Arabia

• Local producer keep offers steady in UAE

• Steady-to-soft trend prevails in East-Med

• Purchases tied to need basis

• Demand retreats before Eid holiday

• Local PE in S. Arabia ($/ton): LDPE 1010-1020 | LLDPE 960-970 | HDPE 1010-1030

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

Egypt’s import PE market tracks flat-to-soft trend ahead of Eid.

• Local offers flat to EGP200-500 softer

• Discounts obtainable on deals

• Limited activities ahead of Eid holiday

• Current trend likely to extend into end of Aug

• Import offers($/ton): HDPE 1010-1040 | LDPE 1000-1040 | LLDPE 940-1000 CIF

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

END