More Mid-Eastern producers reveal Feb PE prices to SEA
A distributor based in Thailand reported that a Middle Eastern producer announced their new PE prices for February at $1120/ton for LLDPE film and at $1100/ton for HDPE film, both on a CIF Thailand, cash basis. The producer’s new prices represent decreases of $80/ton for LLDPE and $50/ton for HDPE when compared to their most recently reported levels.
The distributor stated, “The producer has reportedly allocated only around 100-200 tons of cargoes to the Thai market for February. They are offering their February shipment cargoes with decreases as they are looking for ways to compensate buyers who purchased at high prices in the past months.”
Two Vietnamese traders, meanwhile, reported that another Middle Eastern producer also revealed their new PE prices for February. One trader stated that the producer announced new PE prices with a reduction of $50/ton for HDPE film and $20-30/ton for LLDPE film when compared to their initial January offer levels. However; the producer’s new prices represent an increase of $40/ton for each product when compared to their most recent done deal levels. The producer is now offering February shipment LLDPE and HDPE film at $1100/ton CIF SEA, cash.
The second trader commented, “The producer’s new prices are higher than last month’s done deal levels as they had given some special offers for January in order to conclude deals. We are planning to make a small purchase to maintain our relationship with the supplier.”
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