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Chinese players on the final trading day of the week reported having purchased Indian LLDPE film at $1090/ton CFR China, LC AS term, a $35/ton drop from initial offer levels. 

The reductions come as suppliers attempted to stimulate the persistently sluggish demand condition in this market, which is a result of the quick depreciating local currency and the escalated trade tension between China and the USA.

“We have purchased some quantity and currently wait for other Middle Eastern suppliers to reduce prices. The Chinese Yuan has depreciated drastically against the US dollar and undermine the attractiveness of the price cuts. We are taking a more cautious stance for now,” a local trader said.