Saudi major announces Oct PE, PP offers to China

Oct. 11, 2018

An agent of a major Saudi Arabian producer reported that their supplier announced its October PE and PP offers to China.

The producer increased its new homo-PP raffia offers by $50/ton from September to $1300/ton CIF, cash.

As for PE, the major producer’s October prices are down by $20/ton for HDPE film, by $10-20/ton for HDPE blow moulding and by $10/ton for LDPE film while their new LLDPE film offer is stable to $10/ton higher when compared to last month.

The agent commented, “China’s polyolefin markets returned from the holiday on a stable to firmer note amidst surging futures prices, except for HDPE grades. Demand is good and we have already concluded a good number of deals.”

“LDPE and LLDPE are receiving support from the agricultural sector while PP prices are moving higher owing to low supplies and good demand. Meanwhile, buying interest for HDPE is quite limited and buyers are showing resistance to the current offer levels,” he added.