PE players receive lower offers for Jan in China
Players attribute the emergence of lower offers to fading demand in the off-season as well as traders’ reports that delayed shipments from Iran are expected to arrive in China next month in line with easing supplies in the country.
A Chinese converter received $20/ton softer January offers for Qatari HDPE blow moulding and LLDPE film, respectively at $1250/ton and $1170/ton, both on CIF, cash basis. The buyer was also offered Saudi LLDPE film for January shipment at $1180/ton CIF, with a decrease of $30/ton from December.
“Buyers in China are mostly expecting to see further reductions in PE prices in the near term as supplies are likely to improve from Iran while demand for HDPE may remain weak until the end of the Chinese New Year holiday,” commented the converter.
According to a trader based in China, a Thai producer announced its January PE prices to the country with decreases of $15/ton for HDPE and $20-25/ton for LDPE. The producer’s new offers reportedly stand at $1200-1225/ton for LDPE film and at $1345/ton for HDPE film and yarn, on CIF China, cash basis. “As for LLDPE film, the producer is not giving any offers for now due to its lack of allocation to China,” the trader noted.
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