A source from the leading Saudi polyolefins producer shared with SSESSMENTS.COM on the notable adjustment made on PE offers to China market. Considering the current market situation, April shipment offers for LLDPE Film C4 from the producer were adjusted down by $60/ton from the offer available last week. The current offers stand at $670/ton. Additionally, the producer is willing to sell at $20/ton lower if the bid received is serious. While for HDPE Film, the producer has sold out HDPE Film allocation for April shipment to China since last week with deals concluded at $760/ton. All offers on LC at sight, CIF China Main Port basis.
In terms of market feedback, buyers’ response towards the latest offer for LLDPE Film C4 remains cold. Despite the significant reduction, the current offer is still unable to meet buyers’ acceptable level as most of them expressed buy idea at $600/ton on the same payment and delivery term. Hence, the source opined to SSESSMENTS.COM that there is a possibility for LLDPE Film C4 prices to reach $600/ton-level if Coronavirus outbreak across the globe has yet to be controlled and continue to drag down buying sentiment.
