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LATEST NEWS: Saudi major announces Dec PE offers to China

by ChemOrbis Editorial Team -
  • 28/11/2018 (11:45)
An agent of a major Saudi Arabian producer reported that their supplier announced its December PE offers to China.

The producer reduced its new offers by $140/ton for HDPE film, by $100-110/ton for LDPE film and by $100/ton for LLDPE film when compared to November.

The agent opined, “China’s PE market is quite bearish amid growing uncertainty. Crude oil futures and upstream costs are weak while demand from end-product manufacturers is persistently sluggish. When compared to HDPE and LDPE, LLDPE film sees slightly better demand thanks to the agricultural season. Plus, our supplier’s inventory levels for LLDPE are not high. Still, we aren’t feeling optimistic regarding the near term outlook.”

The Saudi major’s December PE prices currently stand at $1020-1030/ton for LDPE film, at $1020/ton for LLDPE film, at $1140/ton for HDPE film, all on CIF China, cash basis.

According to the agent, the producer did not give any homo-PP offers to China for December.
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