Qatari LLDPE film slipped below the $1200/ton mark in China

A major Qatari producer has opened official offers for PE cargoes to China today with $20-30/ton reduction from last week due to falling buying interest. With the adjustment, LLDPE film offers are now below the $1200/ton mark, at $1190/ton CFR China, LC AS term while LDPE film at $1250/ton with the same term.

Couple of deals for LLDPE film have been reported with a trader informed, “We are able to re-sell at $15/ton higher. Market might not be falling to steeply hence we decided to pick up some quantity. We are still hoping for last minutes replenishment in the coming week.”

Players are expecting similar move from other Middle Eastern producers in the near term given the un-expected falling demand ahead of the long National Day holiday. Many are looking at the stabilising condition once import HDPE and LLDPE film reaches the $1180-1200/ton range.