Chinese players: Singaporean LLDPE offers sees additional hike

Market players in China reported to have received LLDPE film and mPE offers from a major Singaporean maker today with $10/t increased from last week’s levels to reach $1230/t and $1410/t respectively, all based on CFR China, LC AS term.

A trader received new prices said, “Our supplier informed that their allocation is very limited and most of the cargoes to Northern China are taken by distributors. Converters are showing resistance towards the new price level while supplier is pressurising us to take up cargoes immediately. We expect the firming trend would be hurdled by weak demand in the near term.”

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