Import LLDPE prices sink below $1100/ton in China, SEA
A trader in China reported receiving an offer for Brazilian LLDPE film at $1050/ton CFR, cash while offers for the same origin were also heard in the market as low as $1050/ton CFR, 90 days, constituting the low end of the overall import LLDPE film range in China. “Buyers are keeping to the sidelines and most converters in northern China are operating at reduced rates of around 30-60% of capacity. Weakening spot ethylene prices and concerns over the health of the global economy are discouraging buying interest,” the trader commented.
A second Chinese trader reported receiving an offer for Saudi Arabian LLDPE film at $1080/ton CFR, cash. “Spot ethylene prices have posted significant decreases and this has put downward pressure on PE prices. We hear rumors in the market that HDPE film prices are also nearing the $1100/ton threshold,” the trader stated.
In Vietnam, a trader said that they received an offer for Saudi Arabian LLDPE film at $1070-1080/ton CIF, cash. “We believe that the market is not likely to stabilize in September, although the situation may become clearer by October. For the moment, we are suffering losses on our inventory owing to the rapid decline in PE prices,” the trader reported.
Import LLDPE film prices currently stand at $1035-1220/ton to China and at $1070-1190/ton to SEA, both on a CFR, cash equivalent basis.
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