News Code : 42686

Iran’s supply disruption triggers price hikes in China’s PE market

• Dutiable PE offers up $20-30 • Thai producer applies further hikes of $15-20 • Limited imports counterbalance oversupply in local market • Demand has improved since VAT cut • LLDPE futures climb CNY165 on week • Import dutiable PE ($/ton): HDPE film 1090-1170 | LDPE film 1070-1090 | LLDPE film 1030-1060 CIF

Iran’s supply disruption triggers price hikes in China’s PE market

Petrotahlil:

Rising costs, production hiccups support firmer PE in Italy

• April deals concluded €30 higher 

• A few sellers achieve €50 hikes 

• Some PE outages, rising costs support sellers’ firmer stance 

• Hikes pass on deals despite weak demand 

• Early voices for May emerge on a firmer note

• Local spot (€/ton): LDPE film 1060-1130 | LLDPE film 1040-1100 | HDPE film, b/m 1140-1250 FD

 

SE Asia’s PE market supported by strong crude oil, China

• Offers from Mid-East slightly up by $10 

• US suppliers reluctant to give discounts this time 

• Import supplies limited, particularly for LDPE 

• Crude oil, naphtha prices continue to rise 

• China’s import PE market firms up on supply concerns

• Mid-Eastern PE ($/ton): HDPE film 1100-1120 | LDPE film 1090-1100 | LLDPE film 1030-1060 CIF 

• US PE ($/ton): HDPE film 1080 | LDPE film 1030-1040 | LLDPE film 1000-1010 CIF

 

April PE deals start to be closed mostly in line with C2 hike in Europe

• €30 hikes start to pass on initial PE deals 

• Sellers’ hike attempts of €50 mainly failed on weak demand 

• Buying interest is calm ahead of Easter holidays 

• PE prices expected to remain on current levels for H2 April 

• Early firmer voices surface for May on rising costs

• Local spot (€/ton): LDPE film 1070-1150| LLDPE film 1050-1120 | HDPE film, b/m 1150-1230 FD | HDPE inj. 1160-1230 FD

 

Turkey’s PE market at par with import prices in China

• Buyers pay modest PE hikes on April deals 

• Petkim hikes LDPE, LDPE-t by $20 on Monday 

• End demand disappoints after elections 

• Firmer prices in China, surging oil support PE

• US ($/ton): LDPE 1050 | LLDPE 1020-1040 | HDPE film 1090-1110 CIF 

• Mid-East ($/ton): LDPE 1050-1070 | LLDPE 1030-1080 | HDPE film 1110-1160 CIF 

• Local ($/ton): LDPE 1415-1450 | LLDPE 1370-1420 | HDPE film 1420-1480 inc VAT

 

Egypt’s local PE market remains soft on poor activities

• Saudi producer’s new offers higher by $30-70 from its March levels 

• Distribution market levels down by EGP100-500 

• Supplies remain adequate amid poor demand 

• Import players negotiate for lower April deals

• Import PE ($/ton): LDPE 1010-1110 | LLDPE 980-1050 | HDPE 1100-1210 CIF

 

Bullish PE run extends into April in Middle East

• Saudi major announces rollovers to increases to local market 

• Major UAE producer’s local offers up by $40 from March 

• Emirati players manage to conclude deals with rollovers 

• Purchases remain tied to need basis 

• Demand yet to pick up before Ramadan

• Local PE in S.Arabia ($/ton): LDPE 1030 | LLDPE 1020 | HDPE 1060-1090 FD 

• Import PE in UAE ($/ton): LDPE 1090-1120 | LLDPE 1090-1110 | HDPE 1120-1150 CIF

 

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

 

Send Comment