07 December 2011 09:49 [Source: ICIS news]
According to some market players, the price drop is mainly because increased supply.
Most of the cargoes that were imported during the October-November period were at around $1,306/tonne (€980/tonne) CFR (cost & freight)
This resulted in a profit of around CNY360/tonne as the ex-warehouse prices of the cargoes were at around CNY10,785/tonne, some distributors in east
As a result, most sellers are reducing their inventories at the lower prices to gain cash to meet their credit terms, a trader in south
In addition, downstream demand is weak because of
The falling prices of HDPE may cause the near-term outlook to be bearish as market players will expect the prices to drop further.
($1 = CNY6.34, $1 = €0.75)
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