Indian origin LLDPE film touches $800 threshold in China
by Pınar Polat - ppolat@chemorbis.com
A trader in China reported that Indian origin LLDPE film fell to $800/ton CIF China, cash this week in the face of subdued demand amid growing impact of coronavirus. The last time Indian origin LLDPE film stood at this level in the country was early December 2019.
“Indian origin LLDPE film offers a competitive edge when compared to Mid-East origins in China, standing at $800/ton CIF for February shipment. We offer Saudi LLDPE film at $840/ton CIF; however, we think done deal levels can be at least $10-20/ton lower. As demand is likely to remain weak amid coronavirus-lead concerns, we don’t expect to see a change in the market direction for the latter part of the month,” the trader opined.
In China, Indian origin LLDPE film offers are reported at $800-820/ton CIF China, cash basis this week. The range is indicating a weekly loss of $10-20/ton.
Meanwhile, ChemOrbis Price Wizard shows that the weekly average of Indian origin LLDPE film in China is currently standing at a two-month low.
“Indian origin LLDPE film offers a competitive edge when compared to Mid-East origins in China, standing at $800/ton CIF for February shipment. We offer Saudi LLDPE film at $840/ton CIF; however, we think done deal levels can be at least $10-20/ton lower. As demand is likely to remain weak amid coronavirus-lead concerns, we don’t expect to see a change in the market direction for the latter part of the month,” the trader opined.
In China, Indian origin LLDPE film offers are reported at $800-820/ton CIF China, cash basis this week. The range is indicating a weekly loss of $10-20/ton.
Meanwhile, ChemOrbis Price Wizard shows that the weekly average of Indian origin LLDPE film in China is currently standing at a two-month low.
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