PE MARKETS WEEKLY HIGHLIGHTS & PRICE CHANGES(16-20 SEPTEMBER 2019).
Petrotahlil :
China PE prices extend gains on supply
cuts from S. Arabia
• PE prices stable to up for second week
• Early-week spike in oil supports sellers’ hands
• Local polyolefin supplies remain low
• LLDPE futures rise 2.8% since early week• Sentiment cools off a bit
as oil pares some earlier gains
• Eyes on allocations from Saudi Arabia
• Mid-Eastern PE ($/ton): HDPE film 860-910 | LDPE film 890-940 |
LLDPE film 840-850 CIF
SEA PE rebounds from 10-year low, players question sustainability
• Most sellers withhold offers after Aramco attacks
• Prices notionally increase, particularly for Saudi origins
• Supply concerns boost sentiment early week
• But overall PE supplies remain ample, players note
• Sharply fluctuating oil futures blur the outlook
• Mid-Eastern PE ($/ton): HDPE film 920-950 | LDPE film 910-950 |
LLDPE film 820-880 CIF
• US PE ($/ton): HDPE film 860-870 | LDPE film 850-870 | LLDPE film
820-850 CIF
Turkey’s PE market faces stormy week
with cautiously firmer price talks
• Market shaken by Monday’s oil jump after Aramco attacks
• Upstream costs spike before seeing correction later in week
• Mid-East PE sellers halt offers, Petkim raises LDPE
• Buyers skeptical about possible hike attempts
• China cautiously strong amid lower domestic stocks, volatile oil
• US ($/ton): LDPE 925-935 | LLDPE 870-880 | HDPE film 840-860
CIF
• Mid-East ($/ton): LDPE 920-930 | LLDPE 880-900 | HDPE film 880-
900 CIF
• Local ($/ton): LDPE 1250-1330 | LLDPE 1190-1220 | HDPE film
1200-1240 inc VAT
Sept PE deals wrap stable to soft in Mid- East
• PE markets feel pressure of attack on Saudi oil facilities
• Deals concluded in Lebanon with 3 digit decreases
• Market turns cautious after Saudi suppliers announce
production cuts
• However, operation rates recently seen improving
• October outlook blurry
• Local PE in S.Arabia ($/ton) : LDPE 980-1000 | LLDPE 960-970 |
HDPE 950-1000 FD
• Import PE in UAE ($/ton): LDPE 980-1000 | LLDPE 960-970 | HDPE 960$ CIF
Italian players discuss October PE
outlook
• More Sept deals closed €40 lower
• Buyers limit their purchases amid weak demand
• Drone attacks at Saudi Aramco cause uncertainties on PE outlook
• Players closely monitor feedstock movements
• Early Oct expectations call for a stable to firmer trend
• Local spot (€/ton): LDPE film 950-1030 | LLDPE film 950-1020 |
HDPE film, b/m 980-1080 FD
Demand to set direction of Oct PE market
in Europe
• Sept deals continue to be settled €40 lower
• Players start to discuss Oct outlook
• Rising energy complex might support an uptrend in Oct
• Buyers skeptical about possible hikes on weak fundamentals
• Local spot (€/ton): LDPE film 960-1050| LLDPE film 950-1040 |
HDPE film, b/m 980-1100 FD | HDPE inj. 970-1080 FD
Sentiment in Egypt's PE market starts
heating up on Saudi oil field attack
• Early surge in energy costs stir some demand
• Yet, activities remain below-par overall
• Both markets look for direction amid uncertain environment
• Import PE ($/ton): LDPE 920-980 | LLDPE 850-880 | HDPE 900-990
CIF
African PE markets see fresh round of
drops for September
• Moroccan markets witness €50-60 decreases
• Saudi producers cut offers to Algeria amid low demand
• Decreases of more than $100 heard in Kenya
• Nigerian ELEME’s offers NGN15,000-20,000 lower from August
• Ample supply, lower costs support PE downturn
• Imports in Algeria ($/ton): HDPE 1000 | LDPE 1040-1050 | LLDPE
1000-1010 CIF
• Imports in Kenya ($/ton): HDPE 960-1050 | LDPE900-1050 | LLDPE
850-980 CFR
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Source:Chemorbis
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