- Local market mixed on futures rebound and lower imports
- Import largely lower as suppliers cut September offers
- Local inventory level dropped on increasing buying appetite
PE market :
Import prices largely lower as overseas suppliers cut their offers for September and October shipment cargoes amid increasing supply pressure. Prices for certain HDPE grades were supported by relatively limited supply from Saudi and Iran.
Local market was mixed as LLDPE futures rebounded and esquires for cargoes increased in the week. Local producers’ inventories dropped 6.8% to 620,000 tonnes as compared to last Friday’s level. However, any price gain was capper by lower-priced import cargoes.
- Asia PE margins from all process decreased in the week of 30 August due to lower PE prices.
- LPG-based PE margins decreased both in SEA and NEA market due to falling PE prices and increasing feedstock prices. SEA LPG-based PE margins remained the most competitive route in Asia.
- PE prices declined in the week of 30 August, pressured by weak spot demand. Local currencies depreciation and US-China trade disputes also put bearish sentiment on the market.
- Import prices fall further
- Domestic prices climb continually
- Sinopec and PetroChina’s polyolefin inventories drop to lowest since Feb 2019
- Prices continue downward
- Suppliers cut prices to stimulate interest
- Demand poor
- Little change to fundamentals expected in SeptIf demand rises, could test supply levels
- Prices stable to soft
- Buyers unmoved by repeated discounts
- No improvement expected in September
- Players unsure on prices