Middle Eastern producers announce Nov PE prices to SEA
“Major Middle Eastern producers have limited supplies for November. Hence, they keep their prices at high levels. Plus, some Southeast Asian producers are also having supply issues. On the other hand, demand is not promising. In Vietnam, most buyers replenished their stocks in early October and they are mostly covered until the end of November. Demand for many end product applications remains slow in the region,” the source commented.
The producer’s new prices stand at $1230/ton CIF SEA, cash for LLDPE film, HDPE film and HDPE blow moulding.
A trader operating in Vietnam reported receiving an LLDPE film offer for November from the same producer at $1230/ton CIF, cash, stating, “Demand is still stagnant in Vietnam, especially for PP. PE demand is a bit better as LLDPE supplies are quite limited at the moment.”
Meanwhile, two players in Vietnam reported that they received November PE prices from a Saudi Arabian producer at $1230-1240/ton for LLDPE film and at $1240/ton for HDPE film, both on a CIF SEA, cash basis. According to players, the producer’s new prices indicate increases of $50-60/ton for LLDPE film and $40-60/ton for HDPE film when compared to October.
A bag manufacturer said, “Demand for our end products is regular while we are already covered until December. We are not that willing to make fresh purchases in December either as we are planning to deplete our stocks before the year ends.”
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