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CHINA

·     Steady trading activities in local market 

·     Limited import offers at stable to firmer levels 

Polypropylene (PP)

After a brief hesitation to make purchases during the first trading hours of the day, Chinese buyers return to the market with a relatively healthy appetite. Several traders by the end of the trading day reported satisfactory sales results for parcels to be delivered after the Lunar New Year.

“We have stocked up sufficiently and currently just monitor market movement. We would start to take off by the end of next week for the Lunar New Year holiday. Sentiment might weaken further,” a converter said. 

Polyethylene (PE)

The strong buying appetite for import LLDPE film observed in the previous week has not immediately emerged on the first trading day of this week. However, suppliers either claimed sold out or limited availability for this grade. 

Meanwhile, customers in Eastern China are reporting tightening availability for LDPE film cargoes, especially for Iranian materials following a series of delay in shipment.   

SOUTHEAST ASIA

·      Overseas sellers firm on import homo-PP offers 

·      Regional PE market remains calm amid lacking new offers 

Polypropylene (PP)

In spite of the fact that many overseas sellers have not opened fresh weekly offers for import homo-PP to Southeast Asia, several sellers are rather firm on the prices. As reported late last week that a Saudi maker insisted on yarn cargoes at $1100/ton CIF Vietnam regardless of lower deals from fellow suppliers; and this week the producer remain unwavering on the prices.

A trader reportedly sold 3000 tons of Vietnamese homo-PP yarn to Indonesia in the previous week at $1110-1120/ton CIF term and have now lifted offers to $1130-1140/ton. “We have almost sold out the available allocation. Indonesian buyers might continue seeking non-dutiable cargoes in the coming days since the domestic market is really firm now,” a trader source added.

Polyethylene (PE)

There have not been many import offers for PE observed in Southeast Asia market and buyers are waiting for new offers from regional and international suppliers.

While local market in Vietnam, Malaysia and Indonesia has not seen any major improvement in term of purchasing interest, Thai players reported an uptick in demand although prices remain mostly unchanged week on week. “This is a good sign. In the meantime, market is waiting for the official announcement from the government regarding the general election date,” a local producer added.  

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