Southeast Asian major lifted PE offers to China

It is reported that a major Southeast Asia maker has implemented $20/ton hike on PE cargoes from last week to $1290-1310/ton for metallocene PE (mPE) and $1180/ton for LLDPE c4 film, all based on CFR China, LC AS term. The continued weakening Chinese Yuan that once had a detrimental effect on the import ground is now subsiding.

Deals are reported to be healthy in the Northern part of China, where the agricultural film season is entering the peak cycle. “However, buying interest in other area remains slow. Market has hit the bottom and we expect to see more of stable to firmer levels in the coming days,” a trader commented.