More Jan PE, PP prices from Middle East announced to SE Asia
A trader reported that a Middle Eastern producer announced their January PP and PE prices to Southeast Asia at $900/ton for homo-PP raffia and at $1110/ton for LLDPE c4 film, both on a CIF SEA, cash basis. According to the trader, the producer’s new offers indicate decreases of around $40/ton from December while their HDPE and PP supplies are not regular. “Trading activities remain limited as most buyers are sidelined in anticipation of seeing lower levels due to weaker crude oil costs. We feel that buyers are delaying their purchases to the post-Chinese New Year holiday period. The market may improve a bit after the holiday, but we still believe that 2016 will be a tough year for polymer markets in the face of the uncertain crude oil outlook,” he commented.
Meanwhile, a source from a Middle Eastern producer reported that they announced their January PE prices to Southeast Asia at $1080/ton CIF, cash for HDPE film, HDPE blow moulding and LLDPE film. The producer’s new price suggests decreases of $50-70/ton when compared to their December done deal levels. The source commented, “PE buyers are not rushing to replenish at the moment as they either have sufficient supplies or they are expecting to see lower levels owing to weaker crude oil costs. The market needs to see a correction due to the imbalance between firming sport ethylene and lower PE prices. However, ethylene is not likely to change direction in the near term as several cracker shutdowns in Asia continue to support spot ethylene costs.”
In Southeast Asia, overall import homo-PP raffia prices are currently reported at $840-900/ton on a CIF, cash equivalent basis. For PE, prices currently stand at $1140-1170/ton for LDPE film, at $1050-1140/ton for LLDPE film, at $1080-1140/ton for HDPE film and at $1080-1110/ton for HDPE blow moulding with the same terms.
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