- A Chinese trader informed SSESSMENTS.COM that local HDPE Film offers in the China market have decreased by CNY500/ton ($71/ton) compared to the price list announced on Tuesday, July 21. While for LDPE Film and LLDPE Film C4 cargoes, the offers declined by CNY100/ton ($14/ton) and CNY150/ton ($21/ton) respectively, during the same time comparison. On the supply side, as of Monday morning, July 27, the inventory level at two leading Chinese Polyolefins producers recorded at 760,000 tons, increased by 60,000 tons over the weekend.
- Another trader stated that local PE offers from the company’s end remain stable as compared to the last trading day. However, as compared to the beginning of last week, PE prices were showing a downtrend, yet, the trader is unwilling to disclose the amount of the downward price correction. According to the trader, the downtrend of PE prices in the domestic market is caused by several reasons. First, despite no official announcement, Iranian vessels are expected to dock in the near term. Second, PE cargoes of US origins have arrived in China in the past few weeks, which add more volume to PE supply in the market. More added, the deals achieved for PE cargoes were limited since last week as buyers prefer to wait for more fresh offers before making any procurements, SSESSMENTS.COM was told.
