Singaporean metallocene PE continue galloping higher

It is reported that a major Singaporean producer lifted offers for metallocene PE to China by $30/ton week on week, to $1410/ton CFR China, LC AS term for enable grade. In spite of active purchasing interest seen in the previous week, no immediate deals have been reported at the latest offers.

A source added, “With purchasing activities continue to weaning off ahead of the long holiday, we do expect some discount to emerge. Therefore, we are waiting on the sideline at the moment,”

Other major Southeast Asian producers have yet to open new offers though persistent weak US dollar against the Chinese Yuan paints a general firmer trend, too.