LATEST NEWS: Saudi major announces Sept PE, PP offers to China
by ChemOrbis Editorial Team - content@chemorbis.com
An agent of a major Saudi Arabian producer reported that the supplier announced September PE and PP offers to China with increases from August. The major skipped HDPE offers for another month amid stock issues.
The producer lifted its new offers by $30/ton for homo-PP raffia, $70/ton for LDPE film, and $30-40/ton for LLDPE film when compared to last month. Accordingly, the latest levels are standing at $1030/ton for LDPE film, $980/ton for LLDPE film, and $880/ton for raffia, all on CIF China, cash basis.
LDPE offers have seen a larger increase, which is attributed to the higher orders seen in the agricultural film industry as the off-season is ending and the high season is around the corner. The agent commented, “Looking ahead, as the mid-September holidays approach, demand from various industries will gradually catch up, leading to a noticeable increase in operating rates among manufacturers. With the accumulation of orders, production will continue to rise, providing support to prices. Although there is some demand support, end-users are still somewhat hesitant to purchase at high prices.”
The agent underlined that there are no offers for HDPE grades for the second month as the major’s HDPE stocks remain limited.
The producer lifted its new offers by $30/ton for homo-PP raffia, $70/ton for LDPE film, and $30-40/ton for LLDPE film when compared to last month. Accordingly, the latest levels are standing at $1030/ton for LDPE film, $980/ton for LLDPE film, and $880/ton for raffia, all on CIF China, cash basis.
LDPE offers have seen a larger increase, which is attributed to the higher orders seen in the agricultural film industry as the off-season is ending and the high season is around the corner. The agent commented, “Looking ahead, as the mid-September holidays approach, demand from various industries will gradually catch up, leading to a noticeable increase in operating rates among manufacturers. With the accumulation of orders, production will continue to rise, providing support to prices. Although there is some demand support, end-users are still somewhat hesitant to purchase at high prices.”
The agent underlined that there are no offers for HDPE grades for the second month as the major’s HDPE stocks remain limited.
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