Singaporean mPE journey north in China, deals achieved

It is reported that a major Singaporean producer has lifted offers for metallocene PE to China by $20/ton from last week, bringing the Enable grade to $1380/ton CFR China, LC AS term. Deals have been realized at the latest offers amid tightening availability.

Earlier this week, the producer also implemented $70/ton increased on the mPE cargoes to Indonesia market and managed to sell out all available quantity. “And therefore, there is technically no sales pressure at the moment. We think there is high possibility that further hike would be materialized in the coming week,” a Chinese buyer added.