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Southeast Asian mPE drop further in China, demand remains sluggishSoutheast Asian mPE drop further in China, demand remains sluggish |
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A major Southeast Asian producer reportedly slashed metallocene PE (mPE) offers to China by $20/ton from last week, sending the latest price list to $1270-1290/ton CFR China, LC AS term. Players attributed the downward adjustment to the continuous strengthening US dollar.
Demand is not strong, sources said, mainly due to the exchange rate that makes imports less attractive. “The reduction only reflects the exchange rate and therefore, buyers are not very responsive. It is still the traditional off-peak season and we do hope for better demand condition in August,” a trader said.