SE Asian buyers show resistance to Dec PE offers from Mid-East
An agent of a Saudi Arabian producer reported that their supplier issued their December PE prices with increases of $80/ton for LDPE film and $10/ton for HDPE film, bringing their new offers to $1360/ton and to $1130-1140/ton, respectively, on a CIF Southeast Asia, cash basis. The agent reported no deals for LDPE film while they sold HDPE film with discounts of $10-20/ton at $1120/ton CIF, cash.
Another Saudi producer also lifted their December prices by $10-20/ton from last month to $1220/ton for LLDPE and to $1160/ton for HDPE, both on CIF SEA, cash basis. An agent of the producer stated, “We have a limited quota to offer. Demand from the region is weak.” The producer was reported to conclude LLDPE deals at $1160/ton CIF, cash.
Meanwhile, a different Middle Eastern producer elected to roll over their new PE offers from last month at $1200/ton CIF, cash for LLDPE film and at $1140/ton for HDPE film and blow moulding with the same terms. A source from the producer commented, “Middle Eastern suppliers’ hike attempts failed to pass in the face of weak regional demand. Done deals for December are even below the latest November levels.”
A bag manufacturer in Indonesia reported, “A Middle Eastern supplier revised their LDPE film offer downwards by $20/ton from last week and they are now asking for $1200/ton CIF, cash. Sellers are not likely to stand firm on their PE offers in December since regional demand is not supportive ahead of the end of the year.”
In Southeast Asia, the overall range for Middle Eastern PE prices is currently quoted at $1200-1360/ton for LDPE film, at $1160-1240/ton for LLDPE film and at $1100-1160/ton for HDPE film, all on a CIF, cash basis.
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