A global trading house notified SSESSMENTS.COM that the leading Saudi polyolefins producer has announced fresh PE and PP offers to China with adjustments applied to certain grades. As informed, offers from the leading Saudi polyolefins producer for all grades of PE reported stable, except for HDPE Film emerged with a slight increase of $10/ton as compared to last week. The source added that the upsurge in HDPE Film offers was triggered by limited supply for this grade in China market. As for PP, offers for PP Block Copolymer and PP Random Copolymer Blow from the producer were hiked by $50/ton as compared to the same period.
Likewise, offers for localized LLDPE Film C4 cargoes of Saudi origin increased by CNY20/ton ($2.8/ton) as compared to the same period. SSESSMENTS.COM was told that the upswing in localized offers was owing to the depreciation of Chinese Yuan against the US Dollar.
