News Code :
42627
Overseas PE sellers sustain firm stance in SEA on limited supply
Petrotahlil:
Overseas PE sellers sustain firm stance in SEA on limited supply
• Mid-Eastern LDPE, HDPE up $10 on week
• LLDPE faces downward pressure
• Import HDPE pipe prices march higher in Vietnam
• Bullish crude supports overseas sellers’ firm stance
• PE sentiment improves in China
• Mid-Eastern PE ($/ton): HDPE film 1100-1120 | LDPE film 1080-1090 | LLDPE film 1020-1060 CIF
• US PE ($/ton): HDPE film 1080 | LDPE film 1030 | LLDPE film 1010 CIF
PE sentiment improves in China following VAT cut
• Saudi major lifts April LDPE offer by $30
• LLDPE, HDPE from Thailand slightly up
• Futures firm up amid positive economic data
• Environmental inspections might ease oversupply fears
• Crude oil futures hit more than 5-month high
• Import dutiable PE ($/ton): HDPE film 1090-1150 | LDPE film 1040-1090 | LLDPE film 1040-1060 CIF
European PE market opens April on a firmer note
• April initial offers surface with up to €60 hikes
• €30 higher April C2 supports sellers’ firmer stance
• Some suppliers applied increases of €30
• Buyers are making resistance to larger increases
• Demand has yet to pick up amid imminent Easter holidays
• Local spot (€/ton): LDPE film 1090-1170| LLDPE film 1080-1140 | HDPE film, b/m 1150-1250 FD | HDPE inj. 1160-1230 FD
Hikes of up to €50/ton emerge in Italy’s PE market for April
• Increases of up to €50 sought by PE producers
• April C2 settled €30 higher in line with expectations
• Some resellers offer with €30 increases on weak demand
• LyondellBasell faces production issues at LDPE plant in Aubette, France
• Weak demand might hinder increases beyond April C2
• Local spot (€/ton): LDPE film 1070-1150 | LLDPE film 1050-1100 | HDPE film, b/m 1150-1250 FD
Sentiment fails improve in Middle Eastern PE markets
• March deals concluded stable from initial levels
• Overall supplies still comfortable, demand remains lackluster
• Sellers hope to see improvement in demand before Ramadan
• Local PE in S.Arabia ($/ton): LDPE 1020 | LLDPE 1010 | HDPE 1069-1070 FD
• Import PE in UAE ($/ton): LDPE 1090-1100 | LLDPE 1050-1080| HDPE 1120-1150 CIF
Turkey’s import PE market extends increases into April
• Most Mid-East sources seek $20-30 hikes
• LDPE moves above China after 4 months
• Economic uncertainties prevail
• February PE imports decline year-on-year
• Sentiment in China improves
• US ($/ton): LDPE 1030-1040 | LLDPE 1020-1040 | HDPE film 1090-1110 CIF
• Mid-East ($/ton): LDPE 1060-1070 | LLDPE 1040-1060 | HDPE film 1110-1160 CIF
• Local ($/ton): LDPE 1415-1450 | LLDPE 1370-1420 | HDPE film 1420-1480 inc VAT
April PE offers roll over or increase on improved demand in Africa
• ELEME keeps PE offers unchanged from March
• Demand starts improving given high season
• Bullish upstream markets support firm sentiment
• Imports in Morocco (€/ton): LDPE 990 CIF
• Imports in Kenya ($/ton): LDPE 1140-1180 | LLDPE 1070-1090 | HDPE 1170-1190 CFR
Egypt’s SIDPEC, ETHYDCO reveal April PE offers
• Import April PE offers stable to $40 higher
• SIDPEC cuts latest offers by EGP200-500
• ETHYDCO’s new offers stable to EGP400 lower
• Local PE ranges stable to EGP400 softer
• Trading subdued as buyers wait for direction
• More import offers awaited in similar fashion
• Import PE ($/ton): HDPE 1100-1210 | LLDPE 980-1050 | LDPE 1010-1070 CIF
