Import PE prices slide in China, further decreases awaited
A trader reported receiving offers for Saudi Arabian LLDPE film at $1170/ton CFR, 90 days as well as an offer for Canadian LLDPE at $1170/ton CFR, cash. “LLDPE prices are down around $10-40/ton compared with the start of the week, although buyers are hesitant as most players anticipate further decreases,” the trader commented.
Another trader said that they received an offer for Brazilian LDPE film at $1190/ton CIF, 90 days. “LDPE prices are down around $10-20/ton from the start of the week due to softer upstream costs and the strong dollar. We expect further downward movement in LDPE prices as LDPE demand is not as robust as demand for other PE products,” the trader stated.
A third trader said that they purchased some Iranian material at $1200/ton for HDPE blow moulding and at $1250/ton for HDPE film, both on a CFR, 90 days deferred payment basis. “Demand is not very encouraging, but we sourced some cargoes to cover our needs. We are mostly doing back to back business these days,” the trader reported.
Import prices for both dutiable and non-dutiable cargoes were reported at $1170-1280/ton for LDPE film, $1150-1230/ton for LLDPE film and at $1210-1270/ton for HDPE film, all on a CFR China, cash equivalent basis.
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