Fresh activity has been reported in China’s polyethylene market, where a domestic trader is heard to have announced an offer for high-density polyethylene (HDPE) blow molding grade at USD 910 per metric ton on an FOB Ningbo port basis for September 2025 shipment.
Market participants highlighted that the offer level sits within the lower end of recent regional benchmarks, reflecting the increasing competitiveness of Middle Eastern cargoes in China. With domestic supply remaining abundant due to steady local production and new capacity ramp-ups, international suppliers have been adjusting pricing strategies to stay attractive against Chinese producers. Traders noted that the offer underscores the continued reliance of China’s import market on Middle Eastern volumes, which often provide flexibility in terms of availability and shipment schedules.
Buyers in China, however, have remained cautious, with many converters opting to defer large purchases amid thin downstream demand in packaging, automotive, and industrial container applications. Despite the competitive pricing, sluggish macroeconomic conditions and pressure from subdued end-user consumption have limited restocking interest. Sources added that some buyers may prefer to wait for more September offers to surface, particularly as sellers face the challenge of balancing aggressive pricing with the need to preserve margins in an oversupplied market.
Industry observers pointed out that the offer could serve as an early reference for September negotiations, shaping sentiment as traders assess whether international suppliers will maintain similar levels or adjust further in response to weak demand. Although September is traditionally a stronger procurement month in China, especially with seasonal restocking for packaging and agricultural applications, the extent of demand recovery remains uncertain.
The offer at USD 910/mt reflects both the competitive stance of Middle Eastern suppliers and the cautious tone of the Chinese market, where oversupply and weak fundamentals continue to weigh on transaction volumes.
