New Southeast Asian mPE offers mixed, buyers sideline to wait for discounts

A major Southeast Asian producer has announced fresh offers for metallocene PE (mPE) to China and Indonesia, sources reported. However, unlike the previous uniformed price setting, the latest price list is rather asymmetrical.

In fact, the maker lifted offers to Indonesia by $40/ton from last month to $1440/ton CIF Indonesia, LC AS term claiming the lack of sales pressure in this market after achieving satisfactory sales result in the previous price announcement.

Meanwhile, offers to China indicated $20/ton reduction week on week to $1370-1380/ton CFR China, LC AS term. “This is a result of the constant falling local prices over the past week while it is also the traditional low demand season for both agricultural film and packaging sector. Buyers might consider making fresh buy if prices see another round of reduction,” a Chinese trader commented.