US LDPE film hits $900 CIF China; Canadian LLDPE film seen at $750

China’s import PE market stayed under downward pressure this week, weighed down by persistent oversupply, weak downstream demand, and a deepening year-end lull. While US-origin LDPE film offers reached the $900/ton CIF China mark—and were even heard as low as $890/ton—bearish sentiment dominated most PE grades, with buyers largely staying on the sidelines ahead of an early Lunar New Year slowdown.

LDPE, LLDPE dragged lower as demand fades

A Shanghai-based converter reported receiving a US LDPE film offer at $900/ton CIF China, cash, alongside Canadian LLDPE film at $750/ton. The buyer said supply remained long, while downstream demand stayed weak due to the seasonal slowdown. Purchase interest was described as muted, with expectations that some factories may shut earlier than usual for the Lunar New Year, potentially from mid-January.

Meanwhile, low-end US LLDPE film offers were still heard around $760/ton CIF China, with similarly low Saudi offers available. A Ningbo-based trader added that US LDPE film was even seen at $890/ton CIF China, cash—although this level has not yet been fully confirmed. Still, the indication underscores the depth of price pressure in the LDPE segment.

Saudi-origin offers soften across grades

Traders across major hubs echoed the weak tone. A Hong Kong-based trader said import offers for Saudi-origin HDPE, LLDPE and LDPE all edged lower this week, as oversupply and lackluster demand continued to weigh on prices. Buyers remained bearish and delayed purchases in anticipation of further declines.

Similarly, a Shanghai-based trader noted that Saudi offers across all three PE grades slipped, with regional oversupply outpacing demand. Exports to Southeast Asia were also limited due to heavy competition and ample supply in neighboring markets. Low prices of finished plastic products offered no cost support to polymer feedstocks, reinforcing the weak sentiment.

HDPE film shows relative resilience

HDPE film appeared slightly more supported compared with LDPE and LLDPE. The lowest US HDPE film offers were reported at $800/ton CIF China, cash—up $20/ton from last week’s low end. Traders noted that sub-$800/ton US offers disappeared this week, at least for now.

Saudi and Iranian HDPE film offers were also heard around $800/ton, largely stable from the previous week. According to traders, HDPE film supply in the US has tightened, lending limited support to prices, while LDPE and LLDPE availability remains ample.

Overall, traders agreed that agricultural film demand remains firmly in the off-season, with greenhouse film demand in northern China nearing an end and southern demand failing to pick up meaningfully. “With order volumes limited and early holiday shutdowns looming, bearish sentiment is unlikely to reverse in the near term,” a trader commented.