- Middle East origin $825-860/ton
- Southeast Asia origin $880/ton
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Comments by market players on LLDPE Film C4 as follows:
A Chinese trader contacted by SSESSMENTS.COM on February 10, stated, “Most of the Chinese traders are still working from home this week. As of this morning, the inventory level of the two leading Chinese polyolefins producers recorded at 1.45 million tons, higher by 125,000 tons from last Friday’s level. While compared to the same period last year, the current level is higher by 420,000 tons. The current level also has broken the historical record of the highest inventory level in 2014, which was 1.3 million tons. From our end, local offers for LLDPE Film C4 dropped by CNY50/ton ($7/ton) as compared to last Friday’s level. Currently, local offers are so low, which makes the offers for import cargoes are deemed unworkable.”
“This week, the China market is still very quiet and local offers are continuously decreased due to weak buying sentiment. On our end, done deals remain confined as well. From import, we received offers for LLDPE Film C4 from a Thai PE producer at $880/ton on LC at sight, CIF China Main Port basis. However, we did not proceed with the procurement as we think there would not be any deals concluded as some converters are still away from their desks,” a Chinese trader commented.
Another China-based trader reported, “We have not received any new offers from a Saudi producer this week. While on the supply side, the inventory level of the two leading Chinese polyolefins producers stood at 1.515 million tons as of today, February 12, increased by 35,000 tons from the previous day.”
A Thai PE producer informed SSESSMENTS.COM on the latest offers for LLDPE Film C4 cargoes to the China market. “We are offering LLDPE Film C4 to the China market at $880/ton on LC at sight, CIF China Main Port basis. As compared to last week’s level, we decided to cut the offers by $50/ton following the cold response toward the previous offer level. Despite the price reduction, the response remains cold as most converters are still off.”
“This week, we received March shipment LLDPE Film C4 offers from a Qatari producer at $5/ton lower from February shipment’s level. As we have other cargoes that will arrive soon, we decided to skip purchasing LLDPE Film C4 cargoes from the Qatari producer. In the local market, we adjusted down PE offers across all grades between CNY100-150/ton ($14-21/ton) compared to last week. So far, done deals remain limited. We think the outlook for China PE prices would not be positive this year; both local producers and traders must be willing to sell at a loss in order to move their cargoes,” a trader based in China commented to SSESSMENTS.COM.
