- As of Tuesday, June 2, September 2020 LLDPE prices on the Dalian Commodity Exchange increased by CNY60/ton ($8/ton) as observed at 2:30 PM (GMT+8), open at CNY6,685/ton ($937/ton) in morning trading session. In response to the uptrend in the futures market, a Chinese trader adjusted up its LDPE Film and LLDPE Film C4 prices further. As compared to Monday’s level, the trader applied a price increase of between CNY50-250/ton ($7-35/ton) for LDPE Film, while offers for LLDPE Film C4 were adjusted up by CNY50-150/ton ($7-21/ton). However, the trader maintained a stable offer level for HDPE Film grade as compared to the same period. From the import market, the leading Saudi polyolefins producer expressed higher selling idea for PE resins to China market this week. Following the uptrend in China market, the producer is planning to adjust their offers for HDPE Film, LDPE Film, and LLDPE Film C4 between $10-20/ton higher than the offer level available in the previous week.
- On the supply front, market sources in China shared with SSESSMENTS.COM on the latest updates of the inventory level of the two leading polyolefins producers in the country. As of Tuesday, June 2, the inventory level of polyolefins at both producers recorded at 770,000 tons, a reduction of 55,000 tons as compared to Monday’s level.
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