The Asian LDPE film market portrayed some early indications of regaining strength this week. In fact, in China, Qatari LDPE film increased by $15/ton from the previous week
The continuous falling crude oil despite the escalating security risk in the Middle East started to ease concern over the PP and PE supply outlook among Asian market participants.
International suppliers started opening May PE shipment offers to Vietnam, with the latest price list from a Saudi Arabia producer seeing a $30/ton reduction on HDPE film
Asian market participants anxiously monitoring the development in the Middle East following Iran’s aerial attacks on Israel that sparked heavy concerns over the impact on the supply from Iran and shipping security in the Strait of Hormuz.
After cutting import LDPE film offers to China earlier this week, a Saudi Arabia producer introduced a $30/ton reduction on LLDPE film the following day,
In the Chinese PVC market, rumours over ethylene supply issues at one of the PVC plants in Ningbo encouraged Chinese suppliers to lift their ethylene-based PVC export offers
Meanwhile, the Southeast Asian ethylene market surged above the $1000/ton threshold for the first time since late January 2022 on the back of an uptick in demand
The Vietnamese homo-PP market started the week on a strong note with local and international suppliers attempting to leverage the strong sentiment in China.
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