Qatari producer adjusted PE offers to China

Chinese players reported to have received new PE offers from a major Qatari producer on the first trading day of the week with some minor adjustments. Latest price list witness $5/ton reduction for LLDPE film cargoes while LDPE film inched $10/ton higher. The offers stand at $1175/ton and $1240/ton respectively, all based on CFR China, LC AS term.

This is an interesting development as the producer concluded LDPE film last week at relatively large discount. Buyers are doubting the maker’s ability to attract deals at higher level at the moment. A trader added, “We have made some replenishment last week and at the moment holding very cautious stance toward the near term market outlook. Even for prompt parcels, buyers are reluctant to accept at slightly higher levels, hence it is tough for deep-seas consignment to achieve any hike.”