Major Middle Eastern maker imposed further price hike on PE to China

Market players reported that a major Middle Eastern producer has adjusted their PE offers to China up $40/t compared to last week in an effort to catch up with firm upstream costs and other peer’s offer levels. The producer’s latest prices stand at $1130/t for HDPE film, $1180/t for LLDPE film and $1170-1190/t for LDPE film, all based on CFR China, LC AS term. 

A buyer commented, “Even after the increases, we found this offer to be more competitive than others. Demand in China has weakened significantly now and we are not that optimistic about the near term outlook.”

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