2019/07/12 07:44:02

News Code : 43142

Polyethylene Weekly highlights, July 11.

http://www.petrotahlil.com/en/tiny/news-43142

PE extends modest gains into 3rd week in China

• Import prices up $10-20 on week

• Demand continues to improve slowly

• LLDPE futures see weekly drop of CNY100

• Crude oil futures hit highest level since May

• New capacities weigh on medium-term outlook

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

Improving demand supports PE sellers’ firm stance in SEA

• Mid-Eastern PE offers stable to $10-20 firmer

• Ample supplies keep US PE under pressure

• Surging crude oil futures also boost sentiment

• Vietnam’s demand better compared to other SEA countries

• Thai market slightly up THB500-1000 on week

• Mid-Eastern PE ($/ton): HDPE film 1000-1070 | LDPE film 980-1040 | LLDPE film 920-990 CIF

• US PE ($/ton): HDPE film 980-990 | LDPE film 980-1000 | LLDPE film 890-940 CIF

Bearishness gains speed in Italy’s PE market for July

• €75-80 drops start to pass on July deals

• Suppliers concede to further small discounts

• Demand slightly improves on buyers’ replenishing activity

• PE fundamentals remain weak

• US LLDPE emerges at competitive level

• Local spot (€/ton): LDPE film 1020-1060 | LLDPE film 980-1050 | HDPE film, b/m 1030-1140 FD

PE dealt in line with or exceeding July C2 drop in Europe

• PE deals closed with €75-80 decreases

• Overall demand remains weak ahead of summer holidays

• HD prices hit lowest levels since mid-Aug 2017

• Further small drops might be possible later in the month

• Early Aug voices emerge on a stable note

• Local spot (€/ton): LDPE film 1000-1100| LLDPE film 1010-1050 | HDPE film, b/m 1040-1150 FD | HDPE inj. 1050-1140 FD

Turkey’s PE market looks for direction

• Further but small discounts arose

• Sellers: Inquiries are higher

• Buyers: Sellers reluctant to accept lower bids

• Offers from Europe showed up

• Import LLDPE, HDPE still trade at a discount to China

• US ($/ton): LDPE 970-980 | LLDPE 910-930 | HDPE film 940-1000 CIF

• Mid-East ($/ton): LDPE 1000-1020 | LLDPE 940-990 | HDPE film 1000-1020 CIF

• Local ($/ton): LDPE 1330-1380 | LLDPE 1210-1290 | HDPE film 1320-1380 inc VAT

Initial July PE offers revealed softer in Mid-East

• Saudi producer reveal lower offers to local market

• Demand remains flat across region

• Availability is not a concern amid sluggish activities

• Local PE in S.Arabia ($/ton): LDPE 1020 | LLDPE 970 | HDPE 1030 FD

• Import PE in UAE ($/ton): LDPE 1040-1050 | LLDPE 1020-1060 | HDPE 1040-1050 CIF

Egypt’s PE markets remain on downtrend

• More ME suppliers unveil softer offers

• High stock levels amid limited buying interest

• PE markets defy the recent monomer gains

• Import PE ($/ton): HDPE 1050-1060 | LDPE 1000-1060 | LLDPE 980-1000

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

END