Qatar and Thailand producer increased PE offers to China

Recent stronger Chinese Yuan and overall limited supply availability has supported both major makers from Thailand and Qatar to lift their PE offers for the week.

Thai maker introduced $10/ton hike for LLDPE film to reach $1300/ton, $60/ton hike for HDPE film to $1410/ton, meanwhile $15/ton decreased for metallocene PE offers to $1300/ton. In addition, the maker also offered LDPE film and heavy duty at $1250/ton and $1270/ton respectively, all based on CFR China, LC at sight term.

A trader commented, “Our supplier informed that they managed to oversold their cargoes since previous sales especially for HDPE film due to continuous supply, hence implemented significant hike for the offers this week and claimed to have limited supply.”

Qatari producer implemented $20/ton hike for both LLDPE film and LDPE film cargoes, reaching $1210/ton and $1220/ton respectively, all based on CFR China, LC 60 days basis. A seller added, “Recent stronger Chinese Yuan has become one of the main factors that support prices to move higher, however, we shall be seeing more resistances if futures market poses continuous weaker trend for the coming days.”