Competitive imports weigh on local PE markets in SEA
Petrotahlil : Competitive imports weigh on local PE markets in SEA • Import PE sees additional drops of $10-20 • Indonesian producer applies further drops on local offers • Thai producer cuts local PE prices • Local prices extend losses into June in Vietnam • Malaysian, Indonesian markets quiet due to Eid holiday • Weaker upstream chain puts pressure on PE • Mid-Eastern PE ($/ton): HDPE film 1040-1060 | LDPE film 1010-1020 | LLDPE film 970-1020 CIF • US PE ($/ton): HDPE film 1010-1050 | LDPE film 1000-1020 | LLDPE film 950-1000 CIF
China’s PE market remains bearish on sluggish demand
• Import PE declines further by $10-30
• Concerns about trade war intensifies
• Uncertain economic outlook dampens demand
• LLDPE futures drop CNY360 on week
• Spot ethylene hits 5-month low in Asia
• Oil prices plunge further
• Import dutiable PE ($/ton): HDPE film 1010-1080 | LDPE film 980-1020 | LLDPE film 930-960 CIF
Stable C2 paves the way for rollovers in European PE market
• Initial June offers mostly revealed stable
• Buyers cautious with fresh deals at the moment
• Stable to softer expectations prevail for PE deals
• PE weak fundamentals might lead to small discounts
• Sellers are open to negotiate their prices
• Local spot (€/ton): LDPE film 1120-1210 | LLDPE film 1070-1150 | HDPE film, b/m 1150-1270 FD | HDPE inj. 1160-1260 FD
Producers seek stability for June PE in Italy
• Initial PE offers show up with rollovers
• Buyers are still searching the market
• Weak fundamentals, lower energy put prices under pressure
• Supply is comfortable amid flimsy demand
• Converters expect to close June deals stable to softer
• Local spot (€/ton): LDPE film 1130-1170 | LLDPE film 1070-1140 | HDPE film, b/m 1140-1270 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
