Further hike implemented on Qatari's PE cargoes to China

According to market sources, a major Qatari producer has implemented the second price hike to China market since the week begins. In the latest offers, the maker lifted $20/ton on LLDPE film to reach $1180/ton and $10-20/ton on LDPE film at $1240-1250/ton, all based on CFR China, LC AS term.

A buyer received the prices commented, “We think the supplier is simply testing market respond for higher prices. We have purchased sufficient cargoes in the previous days and not planning for additional in-take this week. Many other buyers are having similar situation, therefore we think buyers might not show strong interest in such high prices.”