Saudi major cuts June PE, PP prices to China
The producer cut its HDPE film prices by $30/ton to $1130/ton CIF China, cash basis while decreasing both LLDPE and LDPE film prices by $50-60/ton to $1110/ton and to $1220/ton, respectively. Meanwhile, the producer’s offers for homo-PP raffia were also down by $100/ton at $950/ton with the same terms.
The agent commented, “Demand is sluggish and we are selling at a loss as the local market is still offering more competitive edges to buyers. Except for LLDPE, it is currently the off season for both PP and PE in China. We think the market will remain weak in the days ahead.”
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