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NewsSSESSMENTS: Global Trading House Revises Import PE Offers To Bangladesh, Concerns Over Buyers’ Acceptance

Author: SSESSMENTS

A global trading house shared with SSESSMENTS.COM on revision in import PE offers to the Bangladesh market. Offers for LLDPE Film C4 from the leading Indian petrochemical producer declined by $25/ton compared to last week as the previous offers were too high. Despite the reduction, no deals concluded yet as the trader believes that the acceptable level is still below $950/ton-level. As for HDPE Film cargoes, according to the trader, currently, HDPE Film prices are on an uptrend following the higher prices in China market due to Iranian cargoes issues. This week, the trader received a price quotation from a Saudi PE producer at $960/ton on FOB basis; as such, sell idea from the trader is between $990-1,000/ton. All offers on LC at sight, CFR Chittagong Port. However, these levels might be unworkable in the Bangladesh market as buy ideas from buyers are between $30-40/ton lower.

From the trader’s end, the number of inquiries for HDPE Film cargoes increased as some buyers started to replenish materials. Hence, at the moment, the trader is arranging the shipment of materials to buyers, SSESSMENTS.COM was told.

Import PE offers on LC at sight, CFR Chittagong Port

OriginProductTransaction TypeOffers (USD/ton)
SaudiHDPE FilmSell Idea990-1,000
SaudiHDPE FilmBuy Idea960
IndiaLLDPE Film C4Offer Given955

Tags: Asia Pacific,Bangladesh,English,ISC,News,PE

Published on July 16, 2020 3:14 PM (GMT+8)
Last Updated on July 16, 2020 3:14 PM (GMT+8)