PE sell ideas revealed to Southeast Asia

By the middle of the previous week, sellers began to reveal their sell ideas for PE products to Southeast Asia. As per Chemorbis, decreases were reported across the board for June business, in line with expectations. For LDPE film, new offers and pronounced sell ideas have seen declines of U$20-80/ton. A Middle East offer was received with an US$80/ton decrease. From Indonesia, the decrease amount on a sell idea was at $50/ton. A trader, meanwhile, gave a sell idea for Iranian origin which was US$20-50/ton lower for materials sitting in their bonded warehouse in China as demand is rather slow both in China and Southeast Asia and very few done deals are heard so far. Traders prefer to deplete inventories instead of buying any more material. For LLDPE c4 film, sell ideas and offers were down US$40-70/ton, while they were down US$70-100/ton for sell ideas to India. A trader offering Iranian origin reduced his sell idea by US$40-70/ton, while Middle Eastern producers decreased prices by US$50-60/ton. A source at a Middle Eastern producer said, “Currently our LLDPE production is running at less than 70%, but due to resistance from buyers LLDPE prices were reduced.” From Indonesia a sell idea was down US$70/ton. Likewise a source at an Indonesian producer said, “We do not have pressure to sell LLDPE because of our limited inventory, but the market sentiment is bearish.” In the HDPE film market, decreases of US$40-90/ton were reported. A trader offering Iranian origin declared a US$70-90/ton lower sell idea while Southeast Asian origins were also lower by US$40-50/ton. Nevertheless, buy ideas were reported even lower, showing a gap between buyers’ and sellers’ price ideas. A converter gave his buy idea for HDPE film that was US$180-210/ton below the new prices for Southeast Asian origin material. The converter commented, “PE offers will not able to stand above US$1200/ton because of the resistance from buyers and huge drop in prices in China’s market.” For LDPE film a buy idea for Southeast Asian origin was US$120/ton below new sell ideas. The film, sheet and bag manufacturer said, “LDPE film prices have a huge room to drop. In addition, demand is not good. Although this material is short in Europe, European buyers will only be interested to buy from their local markets instead of from Asia.”
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