Import PE sentiment improves further in SE Asia amidst firmer China
A source from a producer commented, “The sales of August shipment cargoes to Southeast Asia were well and the sentiment in the region became better after the firming in China. We think PE prices will remain firm in August as China seems to find support from the ban on the imports of scrap plastics and firm ethylene prices.”
Another Indonesian trader noted, “Although the overall demand is still slow in Indonesia, we think buyers will start giving bids nowadays as the firming in China reflects into Southeast Asia.”
A Singaporean trader said, “Indonesian and Thai markets will find support from firmer crude oil and ethylene prices as well as the uptrend in China. Plus, demand in Indonesia is slowly improving in line with Christmas preparations.”
A Malaysian trader stated, “We think it is time to secure cargoes gradually as PE prices may remain firm in line with China.”
In Southeast Asia, import PE prices are currently reported at $1120-1140/ton for HDPE film, at $1230-1320/ton for LDPE film and at $1090-1150/ton for LLDPE film, all on CIF SEA, cash basis.
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