- A trader informed SSESSMENTS.COM that the company managed to secure two containers of HDPE Film cargoes from a Saudi producer at the initial offer level at $730/ton on LC at sight, CIF China Main Port basis. Meanwhile, in the local market, today’s spot offers in China market continue to decrease following softer futures prices. As reported by the trader, offers for local LLDPE Film C4 decreased by CNY200/ton ($28/ton), while offers for localized Middle Eastern HDPE Film and LDPE Film cargoes dropped between CNY100-150/ton ($14-21/ton). All compared to last Friday’s levels.
- Another trader reported to SSESSMENTS.COM on adjusting offers for localized PE cargoes across all grades from various origins. In comparison to last Monday’s levels, offers for localized HDPE Film cargoes of South Korea and Iran origin, as well as localized Middle Eastern LDPE Film and LLDPE Film C4 dropped between CNY500-600/ton ($70-84/ton). Despite the hefty reductions, no buyers are willing to purchase so far. Currently, most converters are still running production between 50-60% from the normal rate, no significant improvement observed since the demand for end-products remains sluggish. Additionally, last week, some buyers voiced out buy idea for import South Korean LLDPE Film C4 cargoes at $770/ton on LC at sight, CIF China Main Port basis. However, coming to this week, the acceptable level for South Korean cargoes is at $620/ton-level.
