Saudi LLDPE film touched new lows in China market

As reported earlier, the import LLDPE film market in China resumes the downtrend following a brief rebound at the beginning of July and making a historically low level this week. Lengthy supply and concern over the demand prospect are the main factors driving the market, sources said.

Earlier this week, a major Saudi Arabia producer decided to step up effort to smoothen sales process by agreeing to deals for import LLDPE film at $850-860/ton CFR China, LC AS term. The transaction technically paved the way for other suppliers to race lower.

A manufacturer said, “These are the special prices for manufacturers only. We procured more than 500 tons at the lower end of the range, however, the delivery might take longer than usual.”