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NewsSSESSMENTS: Chinese Trader: Import Offers From A Particular Saudi PE Producer Are Worth Buying Despite The Remarkable Adjustments

Author: SSESSMENTS

A Chinese trader contacted by SSESSMENTS.COM voiced out that import offers from a particular Saudi PE producer are worth buying despite the remarkable adjustments. On July 28, the trader reported receiving August shipment offers from a Saudi PE producer with notable upward adjustments. As compared to July shipment, the current offers are captured at $70/ton higher for HDPE Film and $30/ton higher for LLDPE Film C4. The trader already secured some volume for both grades with deals concluded at $10/ton lower than the initial offer level for HDPE Film and at the same level as the initial offer level for LLDPE Film C4. The trader cited that offers from this Saudi producer are worth buying compared to other Middle Eastern producers.

On the other front, SSESSMENTS.COM noted that the leading Saudi polyolefins producer has also released the latest import offers for HDPE Film and LLDPE Film C4 at $960/ton and $850/ton, respectively, both are available on LC at sight, CIF China Main Port basis. On a weekly comparison, latest offers for LLDPE Film C4 dropped by $30/ton, while offers for HDPE Film remain stable. At the moment, no fresh offers for LDPE Film from the leading Saudi producer but other traders offered at $980-1,000/ton on the same payment and delivery terms. Moreover, the producer will likely announce the full price list in early August. 

The trader also shared with SSESSMENTS.COM regarding Russia's SIBUR shipment. As informed, all the containers will be shipped by the train from Sibir to Vostochny port, afterwards, it will be shipped to China by sea. It will take seven days from Vostochny to Qingdao, the trader notified. If to Chengdu or Chongqing, it should be shipped by the train via AlaShankou to the South-west part of China; however, the trader is unsure about how long the shipping time will take.

Import PE offers on LC at sight, CIF China Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
SaudiHDPE FilmOffer Received920-960
SaudiHDPE FilmPurchased910
SaudiLDPE FilmOffer Received980-1,000
SaudiLLDPE Film C4Offer Received830-850
SaudiLLDPE Film C4Purchased830

Tags: Asia Pacific,China,English,Middle East,NEA,News,PE,Saudi Arabia

Published on July 28, 2020 5:11 PM (GMT+8)
Last Updated on July 28, 2020 5:51 PM (GMT+8)