ICIS experts put the southeast Asian polyethylene (PE) market under the spotlight with a comprehensive coverage of both domestic and import prices broken down by country – Indonesia, Malaysia, Thailand, Vietnam and the Philippines.
Use ICIS information to:
- Gain enhanced insight into the southeast Asian PE markets
- Understand and compare country-specific domestic and import prices
- Benchmark your transactions in each of the key countries in the region
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Updated to Q4 2015
Southeast Asia’s linear low density polyethylene (LLDPE) film average prices climbed by $35/tonne to a high of 1,205/tonne CFR (cost & freight) SE (southeast) Asia at the start of October, stabilising until mid-November before starting on a price downtrend . LLDPE film prices dropped steadily week on week to reach $1,115/tonne CFR SE Asia, while high density polyethylene (HDPE) film prices were assessed lower, due to ample supply, averaging at $1,105/tonne CFR SE Asia as of 11 December.
The majority of market players held bearish market sentiment despite firmer ethylene prices in December due to Shell’s force majeure. Volatile crude oil prices and China’s falling LLDPE future values added downward pressure on PE prices in Asia.
PE demand in Q4 continued to be slow with no significant peak for year-end orders. Re-exporters also reported a decline in demand from overseas western markets.
On the supply side, southeast Asian PE supply was tight in October to November due to scheduled and unscheduled plant shutdowns, particularly in Indonesia and Thailand. However, supply tightness eased up from mid-November and is relatively healthy until December with expected surplus in 2016, when some new plants and expansion projects are slated to start commercial operations.
ICIS publishes a weekly report on the southeast Asian PE markets, including all the latest prices, market news and analyses.
Whether you are a producer, seller or buyer of PE within the region, this unique report is beneficial as it offers a valuable price benchmark for domestic trades in key southeast Asian countries, and provides detailed insight into the dynamics of individual markets. You can use this report to stay informed on supply and demand levels and anticipate changes in market sentiment.
The ICIS southeast Asia PE price report includes:
- Market coverage of key southeast Asian countries: Indonesia, Malaysia, Thailand, Vietnam and the Philippines.
- Domestic and import assessed spot prices for key PE grades: LDPE film, LLDPE film and HDPE film
- Feedstock and production news updates
- Weekly overview on supply/demand dynamics and trading activity
Southeast Asia’s PE resin import demand was weak throughout the first quarter, with demand capped by sharply weakened regional currency values, compared against the US dollar. Indonesia’s trading activity was also hampered by local logistics problems created by floods and a volcano eruption on Java Island, while demand in Thailand was severely hit by political uncertainty.
The weekly average prices of film grade LDPE and LLDPE resins fell by 3.6% and 1.0% respectively in the quarter amid the weak demand. HDPE film, injection and blow moulding grades traded 0.3-1.0% higher in the quarter mainly because of reduced production in Thailand following scheduled maintenance at PTT Global Chemical’s plants in February.
HDPE film, injection and blow moulding grades were trading at a weekly average of around $1,550/tonne CFR SE (southeast) Asia in the week ended 28 March. LDPE and LLDPE film grades were trading at weekly averages of $1,620/tonne CFR SE Asia and $1,555/tonne CFR SE Asia in the week ended 28 March.
Updated to Q1 2014