Players: PE shipments from Iran to China limited
A trader based in China noted, “The number of Iranian PE offers has recently reduced in China as some Iranian producers are facing a lack of ethylene supplies nowadays. Some of the August deliveries from Iran have also been delayed. Our inventories are low while spot ethylene prices are still high. We think that import PE prices may not witness any sharp decreases even if the futures market remains weak.”
A trader operating in Shanghai commented, “Overall inventory levels are low on the traders’ side in line with the reduced number of import offers. Supplies from Iran are likely to tighten in the near term as we hardly hear PE offers for this origin nowadays. HDPE film supplies are particularly tight.”
An agent of a Middle Eastern producer also affirmed, “We heard that some Iranian producers delayed their deliveries to China. We believe that supply limitations from the country might support the firming trend in the near term. Meanwhile, our supplier’s PE allocations to Asia are normal for the moment.”
In China, a limited number of Iranian PE offers are currently reported at $1150-1200/ton for LLDPE film and at $1280/ton for LDPE and HDPE film, all on CIF, cash basis.
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