2019/07/05 10:02:04

News Code : 43111

Polyethylene Weekly highlights, 5July.

http://www.petrotahlil.com/en/tiny/news-43111

Petrotahlil :

Import HDPE, LLDPE prices up after hitting a decade low in SEA

• Sentiment cautiously shifts on China’s recovery

• Import prices up around $10-50 on week

• Firm crude oil futures support recent hikes

• Demand remains disappointing despite price gains

• Overall PE supplies remain high in SEA

• Mid-Eastern PE ($/ton): HDPE film 990-1020 | LDPE film 980-1020 | LLDPE film 940-990 CIF

• US PE ($/ton): HDPE film 980-990 | LDPE film 980-1000 | LLDPE film 920-960 CIF

PE starts second half of 2019 on a firm note in China

• Demand improves amid lower supplies

• Dutiable PE offers up $10-30 on week

• Saudi major lifts July offers from mid-June

• Thai PE prices increase further by $15-45

• LLDPE futures see weekly gain of CNY150

• Import dutiable PE ($/ton): HDPE film 980-1020 | LDPE film 940-1010 | LLDPE film 900-950 CIF

Lower C3 pave the way for huge drops in Europe’s PP for July

• Sellers issue €80 decreases on July PP prices

• July C3 agreed with €80 drops

• Buyers remain mainly sidelined

• Demand is unsupportive amid comfortable supply

• Sharp decreases are expected to pass on deals

• Local spot (€/ton): Homo-PP 1140-1250 | PPBC 1200-1310 FD

HDPE prices hit multi-year lows in Italy

• Initial July offers show up €70-75 down

• July C2 settled €75 lower

• Stagnant demand, ample supply weigh on the market

• Converters are still searching the market

• Strong drops expected to pass on PE deals

• Local spot (€/ton): LDPE film 1020-1070 | LLDPE film 980-1060 | HDPE film, b/m 1030-1140 FD

Mid-Eastern PE players expect further declines in July

• June deals closed steady to soft

• Weak cost, poor demand weigh on July expectations

• US cargoes more competitive than Mid-Eastern origins

• No supply concerns reported

Bottom for PE under discussion following July drops in Turkey

• Mid-East sources apply July drops

• Initial rollover attempts from a Saudi major fails

• Players: PE may stabilize at prevailing levels

• China’s import market tracks local PE higher

• European C2 settles down €75 in Europe

• US ($/ton): LDPE 970-1000 | LLDPE 910-930 | HDPE film 950-1000 CIF

• Mid-East ($/ton): LDPE 980-1020 | LLDPE 945-990 | HDPE film 1000-1020 CIF

• Local ($/ton): LDPE 1330-1410 | LLDPE 1250-1310 | HDPE film 1320-1400 inc VAT

African PE players receive softer offers for July

• ELEME’s offers steady for second month in a row

• East, West Africa receive hefty declines for July

• Similar pattern expected in North, South Africa

• Imports in Kenya ($/ton): LDPE 1130 | LLDPE 1040 | HDPE 1070-1080 CFR

• Imports in Nigeria ($/ton): LDPE 1070 | LLDPE 1060 | HDPE 1090 CFR

Egypt’s local PE producers unveil July offers softer

• Import PE offers down, more awaited with decreases

• ETHYDCO cuts latest offers by EGP600-1000

• SIDPEC’s HD inj. offers EGP1500 lower, HD film and b/m steady

• Distribution market steady to EGP500 softer

• Buyers prefer to wait for clear direction

• Import PE ($/ton): HDPE 1050-1060 | LDPE 980-1050 | LLDPE 950-1040 CIF

END