LATEST NEWS: Saudi major announces Dec PE offers to China
by ChemOrbis Editorial Team - content@chemorbis.com
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.
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.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Türkiye’s PP and PE markets extend losses into June, liquidity issues persist
- PP, PE already back to 2020 lows in China; prices poised for further drops
- Local PE prices remain bearish, nearing multi-year lows across SE Asia
- European PP, PE buyers sideline ahead of further drops in June
- China’s April PE imports fall to around 1 million tons, lowest since 2018
- Vietnam’s polymer markets buckle under an influx of Chinese cargoes
- Divergence grows between Egypt’s import and local PP, PE markets
- PP markets in China, Vietnam hit 3-year lows, readying to test new lows
- African PE, PP markets extend slide into May
- Asian PS, ABS markets at 2½-3-year lows amid Chinese oversupply
