LATEST NEWS: HDPE film offers below $1100 CIF emerge in China
by ChemOrbis Editorial Team - content@chemorbis.com
Traders operating in China reported that they received HDPE film offers for Saudi Arabian origins below the $1100/ton CIF level this week. Import HDPE film prices on CIF China basis broke below this threshold for the first time since July 2017.
A trader who was offered Saudi HDPE film at $1070/ton CIF, cash commented, “The local market has declined sharply and players are still not sure whether the bottom is near. Trading activity is quite limited. Hence overseas suppliers are willing to apply notable drops on their offers.”
A second trader also reported that he received an HDPE film offer from a Saudi supplier at $1060/ton CIF, cash.
He opined, “A major Saudi producer is yet to announce its December PE offers to China and we are surprised that other producers have already reduced their offers significantly. Uncertainty is growing in the market amid plunging crude oil futures and the US-China trade war.”
The overall range for import HDPE film prices is currently quoted at $1060-1175/ton on CIF China, cash basis.
A trader who was offered Saudi HDPE film at $1070/ton CIF, cash commented, “The local market has declined sharply and players are still not sure whether the bottom is near. Trading activity is quite limited. Hence overseas suppliers are willing to apply notable drops on their offers.”
A second trader also reported that he received an HDPE film offer from a Saudi supplier at $1060/ton CIF, cash.
He opined, “A major Saudi producer is yet to announce its December PE offers to China and we are surprised that other producers have already reduced their offers significantly. Uncertainty is growing in the market amid plunging crude oil futures and the US-China trade war.”
The overall range for import HDPE film prices is currently quoted at $1060-1175/ton on CIF China, cash basis.
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