The current buying sentiment has steered a Chinese trader to amend localized PE offers of various origin, SSESSMENTS.COM noted. As reported by the trader, the latest offers for localized PE cargoes across all grades of various origins decreased between CNY50-200/ton ($7-28/ton) compared to levels on Thursday (April 16) as a further price correction may be the only way to lure buyers. At the moment, the trader even has special offers for two containers of Russian HDPE Film at CNY6,600/ton ($932/ton) on cash, EXW China basis and including 13% VAT. However, the market is muted and buying sentiment is hampered as most buyers are back to procurement on an as-needed basis.
Further added to SSESSMENTS.COM, the trader informed that the operating rate from converters end who are focusing on the export market is declining following the weak demand amid the Coronavirus pandemic. Looking ahead, the outlook for the local PE market remains cloudy while the room for a further decrease in prices remains wide-open.
Click below to view related stories and content on PE:
NewsSSESSMENTS: Updates On Local PE, PP Prices In China Market, April 17
NewsSSESSMENTS: Ethylene Price At Multi Year Low Reaching Level Last Seen In 2008
