Mid-Eastern producer announces March PE prices to SEA
These new offer levels indicate increases of $140-150/ton for LLDPE film and $135-145/ton for HDPE film when compared to the most recent prices reported for this origin.
The producer source commented, “We are seeing good responses from our customers to our new prices as buyers are now more willing to replenish stocks in line with the firming outlook. We think that the market reached the bottom level last month and that prices will not see any further reductions. We are feeling bullish for the near term outlook.”
A converter in Indonesia who received new March prices from the producer stated, “The market is witnessing significant increases nowadays on the back of tight supplies. Middle Eastern producers are selling their limited quotas to their regular customers while the local market is also facing supply limitations. We are not planning to make fresh purchases for now.”
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