Hefty decreases announced in China’s import PE market

31-Mar-10

In China, two global producers announced April prices for HDPE and LLDPE c4 film with decreases ranging between US$90-130/ton, pointing to softer market sentiment, other overseas producers’ lower offer levels and thin demand, as per Chemorbis. A South Korean producer announced a US$110/ton decrease on April LLDPE c4 film offers over March at US$1320/ton CFR China main port, subject to 6.5% customs duty, cash basis. Buyers are still strongly resisting these prices as buy ideas stand below US$1300/ton. Middle Eastern LLDPE c4 film and HDPE film were sold for April at US$1280-1300/ton and at US$1190-1210/ton, CFR China main port, subject to 6.5% customs duty, cash basis. The producer’s new prices represent a US$100-130/ton decrease for LLDPE film and a US$90-110/ton decrease for HDPE film. The seller has 6,000-7,000 tons of PE to sell to China for this month while he thinks that buying interest is relatively good since their offer levels are competitive with respect to the other offers present in the market.