- As stated to SSESSMENTS.COM, most Middle Eastern PE producers are attempting to raise their offers to the China market on the basis of rising crude oil prices and higher ethylene costs. For Saudi origin, a producer initiated a price increase of $5/ton for HDPE Film and $20/ton for LDPE Film as compared to last week’s level, available at $750/ton and $840/ton respectively on LC at sight, CIF China Main Port basis. Similarly, a Qatari producer applied a price increase of $5/ton for LDPE Film and $20/ton for LLDPE Film C4 as compared to the same period. The latest offers from the producer surfaced in the market at $830/ton and $770/ton respectively with the same payment and delivery terms. For HDPE Film, the Qatari producer is offering high-quality materials at $810/ton on the same payment and delivery terms. However, some sources mentioned that most converters are still holding their purchases and are saddled with low inventory due to falling domestic and export orders. On the supply front, domestic PE supply continues to deplete. As of Thursday, May 21, the inventory level of the leading Chinese polyolefins producers stood at 760,000 tons, a reduction of 40,000 tons from Wednesday’s level.
- The leading Saudi polyolefins producer has announced fresh PE offers to the China market this week. On a week-on-week comparison, the producer maintained a stable offer level for HDPE Film and LDPE Film grades, available at $820/ton and at $860/ton respectively on LC at sight, CIF China Main Port basis. In contrast, the producer made a decision to adjust down offers for LLDPE Film C4 by $10/ton as compared to the same period, surfaced in the market at $770/ton with the same payment and delivery terms. The producer is also willing to entertain requests for discounts, as told to SSESSMENTS.COM.
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