In Southeast Asia over the past few weeks, processors of LDPE and LLDPE film have been forced to agree to lower prices in many cases as concerns about possible monetary tightening measures inside China have pressured sellers to agree to some discounts in order to move material, especially as prices for LDPE and LLDPE film had posted relatively large increases during the preceding rising trend. This was related to Plasticstoday.com by Chemorbis, the Istanbul, Turkey-based provider of plastics pricing and market information.
According to data from ChemOrbis Price Wizard, spot prices on a CIF SEA, cash equivalent basis lost $22/ton for LDPE film and $48/ton for LLDPE film from their mid-November high points to the end of last week. A Southeast Asian processor told the pricing service that it had sold out most of its December allocation for LDPE film to regional markets at prices $20-50/ton below the company's initial offer levels for the month. The processor said that it conceded to these price reductions after its initial offers met with little interest from buyers....