July PE prices from Middle East announced to SEA
A source from a Middle Eastern producer reported that they softened their prices by $10/ton for HDPE film and by $20/ton for LLDPE film, bringing their July offers to $1390/ton and to $1380/ton, respectively, on a CIF SEA, cash basis. “Our shipments are not expected to be affected by Ramadan and we are planning to ship July materials on time. For August, we are expecting to see some upward movement as most buyers who remained on the sidelines last month will need to return to market soon to replenish,” the source commented.
A distributor operating in Malaysia reported receiving July PE prices from a Saudi Arabian producer with rollovers from June at $1380/ton for LLDPE film and at $1390/ton for HDPE film, both on a CIF, cash basis. He also received an LLDPE film offer from a different Middle Eastern supplier with a $10/ton decrease from June at $1350/ton with the same terms.
A trader based in Vietnam reported that they received July PE offers from a Saudi supplier at $1370/ton CIF, cash for HDPE and LLDPE film while another Middle Eastern producer offered them July shipment LLDPE film at $1350/ton with the same terms. He commented, “Demand remains limited this week while supplies are sufficient. For the near term, we are expecting to see a mostly stable trend in the import market.”
In Southeast Asia, overall import Middle Eastern PE prices are currently reported at $1350-1380/ton for LLDPE film and at $1370-1390/ton for HDPE film, all on a CIF SEA, cash equivalent basis.
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