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Aggressive offers for Iranian PE in China

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/05/2017 (11:16)
In China, traders are making aggressive offers for Iranian PE in order to protect their market share in the midst of ongoing payment issues. As traders have been reporting recently, Chinese banks are imposing some restrictions on opening letters of credit for transactions with Iranian parties.

A trader concluded PE deals for Iranian origins at $1100/ton for LDPE film, at $1000-1040/ton for HDPE film and HDPE blow moulding and at $1000/ton for LLDPE film, all on CIF, cash basis. “We are offering at quite competitive levels as buyers in China are reluctant to secure Iranian materials due to payment issues. Demand towards import offers is weak in general due to the fact that the local market is still offering a competitive edge despite the recent rebound,” he commented.

A Ningbo-based trader offered Iranian HDPE blow moulding at $1010/ton CIF China, cash. He noted, “Although Iranian materials can only be sold on cash terms now, some buyers still take the risk owing to very competitive offers. Iranian supplies are ample, particularly for HDPE grades.”

In China, the overall ranges for import PE prices excluding the Iranian offers are currently reported at $1160-1210/ton for LDPE film, at $1084-1163/ton for LLDPE film and at $1085-1143/ton for HDPE film, all on CIF China, cash equivalent basis. Accordingly, current Iranian LDPE offers reported this week stand $60/ton below the low end of the prevailing market range for other origins while this gap is wider at $84-85/ton for LLDPE and HDPE film.
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