A China-based trader unveiled to SSESSMENTS.COM the remarkable gap between the buyer’s bid and PE offers to the country. As revealed, the trader received Saudi HDPE Pipe Black (100) offers at $980/ton on LC at sight, CIF China main port basis. Meanwhile, a bid submitted by a customer showed a remarkable gap from the initial offers, $130/ton lower. However, the bid was automatically rejected by the supplier. Despite that, the trader managed to sell the cargoes to another customer at the initial offer level, yet volume is small.
For Qatar origin cargoes, the trader received import offers from another local trader for HDPE Film and HDPE Blow Moulding at $775/ton, which is deemed too high. As such, the trader prefers a wait-and-see stance. More added, some of the trader’s customers purchased HDPE Blow Moulding of Saudi origin at $700/ton, which is much lower than prices for US cargoes. Based on SSESSMENTS.COM pricing database, the trader sold HDPE Blow Moulding cargoes of US origin at $700-715/ton on Wednesday, May 6. Market talks have it that some buyers in China also managed to secure HDPE Film cargoes of Saudi origin at $700/ton. All transactions on LC at sight, CIF China main port basis.
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