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.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Correction: China, SEA PE markets continue downtrend as Nov ends, what lies ahead in Dec?
- Europe’s dumping case on US and Egyptian PVC: A look at early reactions and possible impacts on trade flows
- Aggressive US PE prices find way to Türkiye, Africa amid year-end stock clearing
- PLAST EURASIA 2023: Players discuss PP, PE outlook amid financial challenges
- Stats: India’s Jan-Sep PVC imports surge, China takes the lion’s share despite safeguard investigation
- Sentiment weakens across African PP, PE markets in November
- HDPE film drops faster than other two main PE film grades in China
- PE prices see larger drops than C2 in Italy, unlike West Europe
- Weak demand sends Türkiye’s styrenics markets to multi-month lows
- Bearish sentiment spills over to Middle Eastern PP, PE markets in November