China LLDPE import prices jump 5% on restocking

17 September 2012 11:11  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) import prices rose by 5% on Monday, in line with spikes in domestic prices, which prompted buyers to replenish inventory, industry sources said.

A Chinese trader offered Middle East LLDPE at $1,430/tonne (€1,087/tonne) CFR (cost and freight) China for prompt lifting at the bonded warehouse, with discussions underway, while buying ideas were at around $1,380-1390/tonne CFR China, traders said.

A number of traders in China are withholding offers in the import market, local traders said.

Some domestic distributors raised their LLDPE film offers in the retail market to CNY11,050-11,500/tonne EXWH (ex-warehouse), in response to the producers’ price hikes, the traders said.

A lot of Chinese plastics end-users and distributors are holding low inventory as they they have been refraining from building up stocks since August on concerns that prices would fall if the eurozone crisis worsens, they said.

($1 = CNY6.32 / $1 = 0.76)

Additional reporting by Rain Dong

By: Amy Yu

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