Trader: Import PP, PE prices move lower in China
The trader is currently offering PP raffia and injection at $830/ton for an Indian origin and at $850/ton for a Saudi origin, both on a CFR, cash basis. For PE, their offers stand at $1130-1150/ton for LDPE film, at $1050/ton for LLDPE film, at $1100-1120/ton for HDPE film and at $1080-1090/ton for HDPE blow moulding for different origins including Southeast Asian, Middle Eastern, Iranian, Brazilian and American.
The trader commented, “Trading activities are stagnant as buyers are not willing to replenish stocks due to decreasing crude oil and naphtha prices. We think that some done deals may be concluded if prices post additional reductions of around $50-100/ton before the end of the month. We hope that demand will start to improve after the Chinese New Year holidays.”
In China, import PP prices are currently reported at $860-870/ton for PP block copolymer injection, at $830-860/ton for raffia and at $830-850/ton for injection, all on a CFR, cash equivalent basis. Import PE prices, meanwhile, currently stand at $1130-1150/ton for LDPE film, at $1050-1080/ton for LLDPE film, at $1060-1120/ton for HDPE film and at $1080-1090/ton for HDPE blow moulding with the same terms.
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