A Chinese trader disregarded import PE and PP offers of Indonesia origin despite the adjustment, SSESSMENTS.COM noted. As contacted on July 22, the trader informed that the company received import offers for HDPE Film from the leading Indonesian polyolefins producer at $10/ton lower than last week’s level. However, the trader decided not to take the cargoes considering its unattractiveness compared to localized US cargoes. As noted, localized offers for HDPE Film of US origin are available at CNY7,600/ton ($1,087/ton) on cash, EXW China basis and including 13% VAT.
As for PP, the trader also received import PP Homo Raffia offers from the same producer at $990/ton on LC at sight, CIF China Main Port basis. Taking into account the quality of the materials, the trader also prefers not to take the cargoes. Furthermore, the trader expressed their buy idea for import PP Block Copolymer of Middle East origin; which is at $960/ton on LC at sight, CIF China Main Port basis. Demand-wise, SSESSMENTS.COM was told that buying sentiment for both PE and PP in China’s domestic market is considered sluggish this week.
