News Code :
42970
Polyethylene/Weekly Highlights
Petrotahlil :
SEA’s PE market remains weak amid bearish China
• Mid-Eastern PE prices decline $10-40
• SEA producer cuts June LDPE prices by $40 to region
• Trading limited ahead of Eid holiday
• Saudi major applies hefty drops for June to China
• Spot ethylene visibly down on week
• Mid-Eastern PE ($/ton): HDPE film 1060-1080 | LDPE film 1020-1030 | LLDPE film 980-1030 CIF
• US PE ($/ton): HDPE film 1050 | LDPE film 1020 | LLDPE film 950-970 CIF
Saudi major applies up to 3-digit drops on PE offers to China
• Price ranges for import PE down $10-30
• Growing trade tensions weigh on demand
• Oversupply concerns back on stage
• Buyers place $20-30 lower bids
• LLDPE futures stable on week
• Spot ethylene prices move lower in Asia
• Import dutiable PE ($/ton): HDPE film 1030-1080 | LDPE film 990-1050 | LLDPE film 950-980 CIF
PE players sidelined ahead of June ethylene in Europe
• June C2 awaited among players
• Expectations call for rollovers to small up and down variations
• Lower naphtha, feeble demand put pressure on the market
• Rising spot ethylene might push C2 contracts up
• Demand is weak amid sufficient supply
• Local spot (€/ton): LDPE film 1120-1210 | LLDPE film 1070-1150 | HDPE film, b/m 1160-1270 | HDPE inj. 1160-1250 FD
June PE outlook under discussion amid divergent factors in Italy
• Previous expectations slightly revised
• June PE trend may see stability to small variations
• C2 awaited stable to €10 up or down; PE prices to follow suit
• Flimsy demand, lower naphtha cool off previous firmer sentiment
• PE producers might issue small increases
• Local spot (€/ton): LDPE film 1110-1170 | LLDPE film 1080-1150 | HDPE film, b/m 1160-1280 FD
Bearish sentiment prevails in Mid-Eastern PE markets
• May deals concluded steady to soft
• Demand remains lackluster amid comfortable supplies
• Stable to soft expectations for June given sluggish buying
• Local PE in S.Arabia ($/ton): LDPE 1030-1040 | LLDPE 1030 | HDPE 1100 FD
• Import PE in UAE ($/ton) LDPE 1090 | LLDPE 1130 | HDPE 1100-1130 CIF
Turkey’s PE market closes May on a weak note
• Traders issue additional drops
• Korean HDPE down further by $40
• Weak expectations reinforced for post-Eid
• Local PE decline as holiday mood kicks in
• Saudi major issues June drops to China
• US ($/ton): LDPE 1040 | LLDPE 980-1010 | HDPE film 1050-1090 CIF
• Mid-East ($/ton): LDPE 1060-1070 | LLDPE 1030 | HDPE film 1100 CIF
• Local ($/ton): LDPE 1410-1440 | LLDPE 1320-1350 | HDPE film 1420-1440 inc VAT
Expectations for June mixed among African PE players
• Offers stable, little change expected until after Eid
• Upcoming holiday, rainy season keep buying to minimum
• Imports in Algeria ($/ton): HDPE 1150-1160 | LLDPE 1130 | LDPE 1160 CIF
• Imports in Kenya ($/ton): HDPE 1170-1190 | LLDPE 1080 | LDPE 1150 CFR
Egypt’s PE market outlook soft on poor activities
• Import prices stable, June offers awaited stable to down
• Distribution market levels steady to soft amid thin activities
• Long supplies, poor demand keep expectations bearish
• USD/EGP exchange rate continues to decline
• Import PE ($/ton): HDPE 1100-1210 | LDPE 1030-1140 | LLDPE 1020-1060 CIF
END
