Saudi major reveals Dec PE offers to China
According to the agent, the producer cut its LDPE and LLDPE film offers by $20/ton and $10-20/ton, respectively, from November while increasing its HDPE offers further by $50/ton.
The Saudi major’s December prices currently stand at $1230/ton for LDPE film, at $1180-1190/ton for LLDPE film and at $1330/ton for HDPE film, all on CIF China, cash basis.
The agent commented, “Demand is relatively slower when compared to previous weeks as buyers deem the prevailing levels too high. Meanwhile, LDPE and LLDPE see weaker demand than HDPE grades. For the past two months, our supplier had no HDPE film production as they switched to HDPE pipe. For now, the producer is recovering its HDPE supplies and the ongoing issues are expected to be solved in December. We are cautious regarding the outlook as we think prices may undergo a correction given a possible easing in HDPE supply issues.”
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