2019/08/23 09:30:49

News Code : 43289

HDPE, LDPE film offers above $1000 CIF disappear in China.

http://www.petrotahlil.com/en/tiny/news-43289

Petrotahlil :

• Import prices see fresh drops of $5-30

• Continuing downturn attributed to thin demand

• Yuan falls to 11-year lows on trade war fears

• Import LLDPE offers above $900 fade

• LLDPE futures keep falling

• Mid-Eastern PE ($/ton): HDPE film 950-980 | LDPE film 950-980 | LLDPE film 880-900 CIF

Initial Sept PE prices announced lower in SE Asia.

• Import prices down further by $10-30

• Ample US supplies keep pressuring the market

• Sentiment pressured by bearish China

• Buyers stay cautious about fresh purchases

• Mid-Eastern PE ($/ton): HDPE film 950-970 | LDPE film 950-970 | LLDPE film 900-930 CIF

• US PE ($/ton): HDPE film 880-900 | LDPE film 920-930 | LLDPE film 880-900 CIF

Downtrend comes to an end in Italy’s PE market for Aug.

• PE opens Aug on a stable to firmer note

• Producers announce small hikes on their contract prices

• Spot PE is offered with rollovers from distributors

• A few PE deals have been closed at stable levels

• Early voices emerge for a firmer September

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

Aug PE offers emerge stable to slightly firmer in Europe.

• European producers issued small hikes

• Spot PE prices remained unchanged

• PE deals are likely to be closed at stable levels

• Early voices for Sept surface firmer

• Weak PE fundamentals weigh on the market

• Local spot (€/ton): LDPE film 1000-1090| LLDPE film 1000-1060 | HDPE film, b/m 1040-1150 FD | HDPE inj. 1020-1140 FD

PE sustains downtrend on competitive US cargos in Turkey.

• Post-Eid demand disappoints, supply is abundant

• Aggressive offers push US HDPE film to a historical low

• Buyers: Sept call for a new series of price cuts

• PE stays bearish in China with weekly drops of up to $30

• US ($/ton): LDPE 960-970 | LLDPE 900-910 | HDPE film 860-900 CIF

• Mid-East ($/ton): LDPE 950-980 | LLDPE 930-940 | HDPE film 950-960 CIF

• Local ($/ton): LDPE 1285-1345 | LLDPE 1200-1260 | HDPE film 1250-1330 inc VAT

Middle-Eastern PE markets fail to shake off holiday lull.

• Holiday mood lingers, supplies comfortable

• More offers surface lower in Jordan, UAE

• Purchasing activity remains flat

• Outlook remains blurry on muted discussions

• Local PE in S.Arabia ($/ton): LDPE 1010-1020 | LLDPE 960-970 | HDPE 1010-1030 FD

• Import PE in UAE ($/ton): LDPE 1040-1050 | LLDPE 1020-1060 | HDPE 1030-1050 CIF

Egypt’s PE markets remain steady to soft after holiday.

• Import offers steady to $10 softer from pre-Eid levels

• Local offers flat to EGP500 softer

• Supply-demand dynamics still fragile

• Buying sentiment further deteriorates on post-holiday lull

• Import PE ($/ton): HDPE 1010-1030 | LDPE 1000-1040 | LLDPE 940-1000

Aug PE offers see rollovers to decreases on weak activities in Africa.

• Weak activities persist across the continent

• ELEME’s offers lower by around $41-55

• More producers expected to follow similar pricing strategies

• Rebound in C2 costs fail to support prices

• Import PE in Morocco ($/ton): LDPE 1069| LLDPE 952 CIF

• Import PE in Kenya ($/ton): LDPE 1130 | LLDPE 1030| HDPE 1070-1080 CFR

END