- As Eid Al-Fitr holiday is just around the corner, most Middle Eastern suppliers announced June shipment offers to the China market earlier than normal schedule. As compared to May shipment, a Qatari producer initiated a price increase of $20/ton for HDPE Film and $5/ton for LDPE Film grades, while offers for LLDPE Film C4 were adjusted up by $25/ton. Supply shortage was cited as a factor pushing the trader to increase their June shipment offers. Despite the price increase, the producer received a good response from Chinese customers as offers are deemed attractive than most import offers. Likewise, a Saudi producer has also announced June shipment offers with no price comparison. For HDPE Film, the producer is offering the materials to the market at $735/ton on LC at sight, CIF China Main Port basis. As for LDPE Film, the offers are available at $820/ton with the same payment and delivery terms, however, the producer is having no allocations for June shipment.
- On the supply side, market sources in China revealed to SSESSMENTS.COM on the latest update of inventory level at the two leading Chinese polyolefins producers. As of Thursday morning, the inventory level of polyolefins at both producers stood at 880,000 tons, a reduction of 40,000 tons compared to Wednesday’s level.
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