Transactions for import LLDPE Film C4 between April 13 to April 17 on LC at sight, CIF China Main Port basis
Description: *Offers available on April 13-14, before adjustment **Offers after adjustments- Middle East origin $720-780/ton
- North America origin $680-720/ton
- Southeast Asia origin $775-850/ton
Comments by market players on LLDPE Film C4 as follows:
On April 13, a Chinese trader reported on receiving import LLDPE Film C4 offers from a Thai PE producer with a notable increase. “In comparison to last week’s level, the producer’s offers for the grade raised by $80/ton, at $850/ton on LC at sight, CIF China main port basis. Despite the producer having limited allocation, our customers lamented that the prices were too high; hence, no buyers willing to take the cargoes.”
In less than a week, a Thai PE producer informed SSESSMENTS.COM on adjusting LLDPE Film C4 offers to the China market twice. On Tuesday, April 14, “We have trimmed the offers for LLDPE Film C4 by $30/ton compared to levels on Monday considering softer futures prices and weak sentiment.” Two days later, on April 16, the producer was reported adjusting their offers again. “As demand from Chinese converters is dull, we decided to lower the offers again by $45/ton compared to a day earlier. The latest offers for the grade are available at $775/ton on LC at sight, CIF China Main Port basis. So far, no deals concluded yet.”
“This week, we received import offers for LLDPE Film C4 of Qatar origin at $740/ton on LC at sight, CIF China Main Port basis, or $50/ton higher from last week’s level. We decided not to proceed with the procurement as we already take US LLDPE Film C4 at a below $770/ton-level,” a trader based in China commented.
A global trading house contacted by SSESSMENTS.COM stated, “Within this week, we received offers for LLDPE Film C4 from Saudi at $40 higher than last week’s level, at $770/ton. Other than that, we also got offers for the same materials of Qatar origin at $720-730/ton with no comparison available as we did not receive the offers from the particular origin last week. All offers are on LC at sight, CIF China Main Port basis. We decided to skip purchasing both cargoes since the prices are too high.”
“In the last ten days, the sales in the China market were quite satisfactory. We received information that suppliers have managed to sell around 100,000 tons of US PE cargoes to the China market. But approaching Wednesday, the sales began to shrink. For Saudi cargoes, we are currently offering LLDPE Film C4 at $780/ton on LC at sight, CIF China Main Port basis,” a Chinese trader revealed to SSESSMENTS.COM.
“Since last week, we managed to sell out all allocation for April shipment and have started offering May shipment to the China market. For LLDPE Film C4, our latest offers are available at $770/ton on LC at sight, CIF China Main Port basis and the cargoes are already available in Singapore Port. Speaking of local prices in China that have started to cool down since Wednesday, we were not even surprised as previously we already believe that the uptrend will not sustain considering the weak demand from converters in general coupled with ample domestic supply in China,” a Saudi producer stated.
“We received offers from a Thai PE producer with another round of adjustment. Compared to the offers received on Monday, April 13, the offers for LLDPE Film C4 from the producer decreased by $60/ton, at $790/ton. Meanwhile, we also received offers from a Qatari producer at $730/ton for LLDPE Film C4,” a Chinese trader informed SSESSMENTS.COM on Friday morning, April 17.
Click below to view related stories and content on the China market:
NewsSSESSMENTS: Review Of China LLDPE Film C4 Market Week 15, April 6-10
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Tags: Asia Pacific,China,English,NEA,News,PE
Published on April 20, 2020 11:57 AM (GMT+8)Last Updated on April 20, 2020 2:42 PM (GMT+8)
