HDPE, LDPE film offers above $1000 CIF disappear in China.
• Import prices see fresh drops of $5-30
• Continuing downturn attributed to thin demand
• Yuan falls to 11-year lows on trade war fears
• Import LLDPE offers above $900 fade
• LLDPE futures keep falling
• Mid-Eastern PE ($/ton): HDPE film 950-980 | LDPE film 950-980 | LLDPE film 880-900 CIF
Initial Sept PE prices announced lower in SE Asia.
• Import prices down further by $10-30
• Ample US supplies keep pressuring the market
• Sentiment pressured by bearish China
• Buyers stay cautious about fresh purchases
• Mid-Eastern PE ($/ton): HDPE film 950-970 | LDPE film 950-970 | LLDPE film 900-930 CIF
• US PE ($/ton): HDPE film 880-900 | LDPE film 920-930 | LLDPE film 880-900 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
PE sustains downtrend on competitive US cargos in Turkey.
• Post-Eid demand disappoints, supply is abundant
• Aggressive offers push US HDPE film to a historical low
• Buyers: Sept call for a new series of price cuts
• PE stays bearish in China with weekly drops of up to $30
• US ($/ton): LDPE 960-970 | LLDPE 900-910 | HDPE film 860-900 CIF
• Mid-East ($/ton): LDPE 950-980 | LLDPE 930-940 | HDPE film 950-960 CIF
• Local ($/ton): LDPE 1285-1345 | LLDPE 1200-1260 | HDPE film 1250-1330 inc VAT
Middle-Eastern PE markets fail to shake off holiday lull.
• Holiday mood lingers, supplies comfortable
• More offers surface lower in Jordan, UAE
• Purchasing activity remains flat
• Outlook remains blurry on muted discussions
• Local PE in S.Arabia ($/ton): LDPE 1010-1020 | LLDPE 960-970 | HDPE 1010-1030 FD
• Import PE in UAE ($/ton): LDPE 1040-1050 | LLDPE 1020-1060 | HDPE 1030-1050 CIF
Egypt’s PE markets remain steady to soft after holiday.
• Import offers steady to $10 softer from pre-Eid levels
• Local offers flat to EGP500 softer
• Supply-demand dynamics still fragile
• Buying sentiment further deteriorates on post-holiday lull
• Import PE ($/ton): HDPE 1010-1030 | LDPE 1000-1040 | 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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