LATEST NEWS: Saudi major issues mixed July PE, PP offers to China
by ChemOrbis Editorial Team - content@chemorbis.com
An agent of a major Saudi Arabian producer reported that the supplier has announced its July PE and PP offers to China with a mixed pricing approach. The producer lowered prices by $10/ton for LLDPE film and homo-PP raffia, while raising HDPE film by $20/ton and LDPE film by $30/ton from June levels.
The new offers were set at $1050/ton for LDPE film, $880/ton for HDPE film, $860/ton for LLDPE film, and $880/ton for homo-PP raffia, all on a CIF China, cash basis. According to the agent, LDPE prices rose more significantly due to reduced Iranian supply following plant shutdowns, while overall supply remains ample.
“Despite the cost-driven price changes, the market outlook is not optimistic,” the agent noted, citing high downstream inventories, cautious buying interest, and a narrowing import-local price gap. “Most buyers are limiting purchases to immediate needs due to weak sentiment,” she added.
The new offers were set at $1050/ton for LDPE film, $880/ton for HDPE film, $860/ton for LLDPE film, and $880/ton for homo-PP raffia, all on a CIF China, cash basis. According to the agent, LDPE prices rose more significantly due to reduced Iranian supply following plant shutdowns, while overall supply remains ample.
“Despite the cost-driven price changes, the market outlook is not optimistic,” the agent noted, citing high downstream inventories, cautious buying interest, and a narrowing import-local price gap. “Most buyers are limiting purchases to immediate needs due to weak sentiment,” she added.
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