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It is reported that a major Southeast Asian producer has announced new metallocene PE (mPE) offers to China with $20/ton reduction from last week, bypassing the strong upstream ethylene costs. Latest price list stands at $1320/ton CFR China, LC AS term for Enable grade. Players are blaming persistent weak demand for the development.

Besides, continued weakening import LLDPE C4 film, which enlarges the price gap between the two grades, has caused great concern among buyers. “The producer also offer LLDPE C4 film at $1220/ton, shipment from Saudi Arabia plant, however, we are not interested. Many other cargoes are available at more competitive prices. The PE market is not responding to stronger ethylene costs and we think more discounts might emerge in the coming days,” a buyer said.