11 Jul 2022
Over the past year, the $100-150/ton location gap for LDPE film between China and Vietnam has been widely accepted. However, the norm seems to have changed now, and the three-digits gap started to face resistance. Several buyers said the gap shall narrow to $50/ton for the fact that shipping costs are coming down.
11 Jul 2022
Meanwhile, the rapid price deterioration in Southeast Asia has shut all export opportunity windows for Chinese suppliers. Zhongjing Petrochemical cuts export offers by $5/ton to $1150/ton FOB China, which attracts no buying attention at the time of this report.
06 Jul 2022
The already fragile market confidence is now hampered by the steep plunge in crude oil prices on the back of the growing fear of a global economic recession. A couple of buyers even anticipated a prolonged downtrend with a possibility that import homo-PP offers could reach the $1100/ton mark in the next several weeks
06 Jul 2022
04 Jul 2022
A major local producer in Indonesia decided to slash domestic spot prices after three weeks of maintaining the offers on the stable to firmer track. Apparently, the downward pressure from the weak demand and falling import market triumph the depreciating Rupiah factor.
04 Jul 2022
In the PE sector, spot offers for HDPE film registered larger dropped than other grades, of up to CNY100/ton from late last week. Manufacturers in the packaging sector are still facing dwindling end-product demand amid the off-peak season, both at home and overseas.
27 Jun 2022
Southeast Asian buyers are rather concerned over the LDPE film market given the large location gap with China. While supply for this grade is relatively tighter than others, buyers are not confident in the near-term outlook, especially when end-product demand shows no signs of improvement.
