PE, ethylene prices move back into balance
In China, the spread between ethylene costs and spot PE prices grew more balanced over the past week as PE prices gained a premium over ethylene high enough to largely cover theoretical production costs for non-integrated producers. According to ChemOrbis Price Wizard data, import PE prices currently carry premiums over ethylene of around $135-180/ton after ethylene and PE prices had traded close to par earlier in the month. Import prices for both dutiable and non-dutiable origins were reported largely steady on the week at $1103-1150/ton for LDPE film, $1034-1120/ton for LLDPE film and at $1034-1110/ton for HDPE film, all on a CFR China, cash equivalent basis. A trader who reported receiving offers for Saudi Arabian HDPE blow moulding at $1060/ton CFR and Japanese LLDPE film at $1090/ton stated, “Trading activity is fading ahead of the approaching holidays and sellers are reluctant to make any changes on their prices. We do not expect to see any major improvement in demand after the holidays.” Inside China, prices were stable to firmer on the week, with most increases occurring at the lower ends of the range. Players pointed to Sinopec and CNPC’s claims of feeling free from sales pressure as well as weekly rise of CNY215/ton ($33/ton) in May LLDPE futures on the Dalian Commodity Exchange as the main factors driving prices higher.
PE, ethylene prices move back into balanceIn China, the spread between ethylene costs and spot PE prices grew more balanced over the past week as PE prices gained a premium over ethylene high enough to largely cover theoretical production costs for non-integrated producers. According to ChemOrbis Price Wizard data, import PE prices currently carry premiums over ethylene of around $135-180/ton after ethylene and PE prices had traded close to par earlier in the month. Import prices for both dutiable and non-dutiable origins were reported largely steady on the week at $1103-1150/ton for LDPE film, $1034-1120/ton for LLDPE film and at $1034-1110/ton for HDPE film, all on a CFR China, cash equivalent basis. A trader who reported receiving offers for Saudi Arabian HDPE blow moulding at $1060/ton CFR and Japanese LLDPE film at $1090/ton stated, “Trading activity is fading ahead of the approaching holidays and sellers are reluctant to make any changes on their prices. We do not expect to see any major improvement in demand after the holidays.” Inside China, prices were stable to firmer on the week, with most increases occurring at the lower ends of the range. Players pointed to Sinopec and CNPC’s claims of feeling free from sales pressure as well as weekly rise of CNY215/ton ($33/ton) in May LLDPE futures on the Dalian Commodity Exchange as the main factors driving prices higher.
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