Import PE cargoes in China shifted to Vietnam
A converter in Vietnam said he received an import Brazilian HDPE film offer, shifted from China, at a level close to the low end of the overall import range in Southeast Asia. “We are sidelined from the market until the end of May and our end product demand is regular. Now that Chinese sellers are trying to shift their cargoes to Vietnam, this is a strong indication of how their own market is performing,” commented the converter.
A regional trader also affirmed that there are lots of HDPE film offers for re-exported cargoes in Vietnam from China. “This may be interpreted to mean that the upturn has come to a halt,” he opined.
On the other hand, spot ethylene prices continue to trade at almost the same levels with PE in the region, as can be seen from the graph below. “This is a rather unbalanced situation. Considering the return of crackers, the May outlook is not strong for ethylene. Ethylene and PE markets will need to correct themselves,” said a market player.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- June expectations surface in Mid-Eastern, African polyolefin markets
- China’s local PVC market retreats from 8-month high
- Initial June PE offers to SEA signal firming despite buyers’ resistance
- Firming in ethylene lags behind propylene in Europe
- PET rally stalls in China after prices hit four-and-half-year high
- Asian PS retains firming path on supportive upstream
- June PE outlook under discussion in Europe
- Taiwanese major lowers June PVC offers to Asia despite firm China
- Local PP markets cautiously firmer in Vietnam, Indonesia
- Global ethylene prices continue to defy energy rally