Players report ample HDPE supplies in global markets
Several players in Turkey commented, “There are plentiful Iranian HDPE film and blow moulding cargos at warehouses since a few traders have engaged in large tonnages recently. Yet, demand is at a standstill nowadays with most manufacturers sticking to the sidelines to monitor the post-referendum scene.” A political referendum will be conducted this Sunday in the country. A distributor similarly stated, “We are struggling to sell HDPE in particular as ample supplies weigh down on our pricing policy. There are aggressive prices for Iranian origins these days.”
In China, a trader reported that local inventories are high especially for HDPE despite the fact that the number of import offers has been reduced recently as overseas producers are not interested in selling to China given low netbacks.
In Southeast Asia, traders have high HDPE stocks in Vietnam amidst weak demand, according to the players in the region. This caused import HDPE prices to post a larger decrease this week.
In Europe, similar concerns about ample HDPE supplies are being voiced amid thin demand. A distributor in Italy reported, “Demand is very calm with buyers purchasing hand to mouth as they expect to see lower PE prices soon. HDPE film demand is particularly weak as consumption reduced due to the shift to biodegradable products.
A trader in Germany reported that HDPE injection is particularly under downward pressure due to comfortable supply and the large variety of origins in the spot market. The fact that some distributors already lowered their offers for HDPE products but they still seek rollovers for LDPE and LLDPE is also confirming the lack of interest for HDPE.
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