LATEST NEWS: Saudi major reveals Dec 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 their December PP and PE offers to China.
The producer has reduced offers for LDPE and HDPE by $10/ton compared to November, while LLDPE and homo-PP raffia and injection prices remained unchanged. December prices are now set at $1160/ton for LDPE film, $920/ton for HDPE film, $960/ton for LLDPE film, and $890/ton for homo-PP raffia and injection, all on a CIF China cash basis.
Despite reports of a slightly improved sentiment in demand, the market response has been underwhelming. “There’s been no substantial boost from online shopping events or year-end festivities. Buyers remain cautious, limiting purchases to essential needs,” said the agent of the producer.
The agent also highlighted buyers’ preference for local resources due to lower domestic prices, which has dampened demand for imports. Meanwhile, an influx of PE offers from the US, particularly as the year-end approaches, has intensified competition in the import market.
“Overall, we don’t feel optimistic about the market outlook,” the agent concluded, reflecting a cautious sentiment amid subdued demand and challenging market dynamics.
The producer has reduced offers for LDPE and HDPE by $10/ton compared to November, while LLDPE and homo-PP raffia and injection prices remained unchanged. December prices are now set at $1160/ton for LDPE film, $920/ton for HDPE film, $960/ton for LLDPE film, and $890/ton for homo-PP raffia and injection, all on a CIF China cash basis.
Despite reports of a slightly improved sentiment in demand, the market response has been underwhelming. “There’s been no substantial boost from online shopping events or year-end festivities. Buyers remain cautious, limiting purchases to essential needs,” said the agent of the producer.
The agent also highlighted buyers’ preference for local resources due to lower domestic prices, which has dampened demand for imports. Meanwhile, an influx of PE offers from the US, particularly as the year-end approaches, has intensified competition in the import market.
“Overall, we don’t feel optimistic about the market outlook,” the agent concluded, reflecting a cautious sentiment amid subdued demand and challenging market dynamics.
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