Major Taiwan imposed price rebound for HDPE in China

Since beginning of the week, weaker sentiment for HDPE caused a major Taiwanese maker to cut $30/ton for HDPE film and yarn offers to reach $1150/ton and $1160/ton respectively, however, prices were being revised with an increase of $20/ton to reach $1170/ton and $1180/ton today, all on CFR China, LC at sight term.

“It is ridiculous to firm up HDPE offers throughout the week but we believed that our supplier has achieved quite a satisfactory sales during beginning of the week after price reduction hence try to pull up offers to observe further market responses. However, sentiment today are weak especially currency posted further depreciation while our customers prefer to wait and see nearby the weekend,” a trader commented.