Qatari producer up adjusted PE offers to China

A Qatari producer reportedly up-adjusted PE prices to China today by $20/ton from last week, bringing latest offers to $1110/ton for LLDPE c4 film and $1160/ton for LDPE film, all based on CFR China, LC AS term. The adjustment come in the light of improved buying interest in China and tightening supply.

A source close to the producer informed that their plant is operating at lower rate in recent weeks, though not much details released. “We are not having large quantity as a result and with several other production issues within Middle East, we do see better chances for continued firming market in the coming day,” the source added.

Meanwhile, Chinese buyers are not very responsive toward the increment from which many are expecting larger discount on deals. “Low local inventories are encouraging buyers to seek import materials, yet we remain very cautious as prices firm up. It is still the traditional low demand season and we fear this trend might not sustain.”