Singaporean producer continues lifting mPE offers to China

It is reported that a major Singaporean producer has implemented another $20/ton hike on the metallocene PE (mPE) prices to China on the back of limited availability. The latest offers stand at $1320-1330/ton CFR China, LC AS term.

It appears that Chinese buyers are becoming less interested in the cargoes following the latest increases, citing that the current prices are above market acceptance levels.

“We think supply tightness could support the current firm trend in the post-holiday term. Meanwhile, demand from other market is rather acceptable at the moment,” a distributor said.