SEA players receive more May PP, PE prices from Mid-East
A trader based in Vietnam reported that a Saudi Arabian supplier announced their May prices with hikes of $100/ton for HDPE, $120/ton for LLDPE and PP block copolymer and $110/ton for homo-PP. the trader received new May prices from the Saudi producer at $1440/ton for HDPE and LLDPE film, at $1400/ton for PP raffia and injection and at $1450/ton for PP block copolymer, all on a CIF SEA, cash basis. “We are only offering to the local market for now and are considering raising our prices in the days ahead,” the trader commented.
Another Vietnamese trader confirmed that they received May PE prices from the same supplier with increases of $100-120/ton when compared to April at $1440/ton CIF, cash for both HDPE and LLDPE film. He stated, “The supplier has a limited quota for May due to some feedstock-related issues at their plant. We are not receiving a good response from our customers for these levels as they find new offers to be too high. We are planning to monitor the market for a while longer before deciding on our next move.”
Meanwhile, a source from a Saudi Arabian producer reported that they have sold out their May quotas to Southeast Asian markets at their initial announcement levels of $1420/ton CIF, cash for all PE and PP grades. According to the source, their done deal levels represent hikes of $40/ton for LLDPE, HDPE, homo-PP and BOPP and $30/ton for PP block copolymer. He commented, “We have limited supplies for May as we faced some issues at our plant. We are afraid that the supply situation may continue into June.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Supply constraints spark stronger PE trend than PP in global markets
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East