Asia PE producers sell Sep cargoes ahead of Northeast Asian holidays

Chemical News: Asia PE producers sell Sep cargoes ahead of Northeast Asian holidays

https://www.chemnet.com Aug 12,2010
Asian polyethylene producers are starting to offer cargoes earlier than usual in anticipation of a slowdown in demand end-September and early October when the Chinese market will be closed for two holidays, market sources said this week.

Southeast Asian producers, in particular, have started to offer September cargoes to China. A major South Korean producer has also started to offer September cargoes this week.

"Chinese customers want their cargoes to arrive 10 days before the holidays, which is before September 20," said a Thai producer.

China will be celebrating the Mid-Autumn Festival between September 22 and 24, and its National Day over October 1-7. South Korea will also be closed for a three-day Harvest Festival holiday starting September 22.

Most producers offer cargoes, once a month, in the third week of the previous month.

"We are selling less cargoes for September because there's a South Korean holiday in September and a big holiday in China in the first week of October,"
said the South Korean producer.

Middle Eastern producers have not revealed plans to push forward their September offers, opting to offer only in the third week of August.

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