Singaporean mPE surged in China on supply tightness

It is reported that a major Singaporean producer has announced fresh metallocene PE offers to China with $30/ton hike from last week to $1300-1310/ton depending on the grade, all based on CFR China, LC AS term.

The increases are very much expected as an unspecified technical issue has forced the producer to take the mPE unit off-stream for six weeks since late March 2019. 

Several Chinese buyers are negotiating for discounts in order to procure some quantity with the expectation that the tightness might persist in the coming weeks.