A global trading house contacted by SSESSMENTS.COM stated that Indian LLDPE Film cargoes to Bangladesh achieved good sales despite the hefty sales but dissimilar with PP. This week, the latest offers for import PE and PP cargoes of India origin surfaced in the Bangladesh market with an upward adjustment. For PE, offers for Indian LLDPE Film C4 moved higher between $50-60/ton. Despite the notable increment, the sales for Indian LLDPE Film C4 cargoes are considered good as supported by the relatively limited availability of LLDPE Film C4 in Bangladesh. At the moment, no fresh offers for Middle Eastern LLDPE Film C4 available in the market. On the other side, there are no buyers inquiring for LDPE Film as most of them have already secured some volume beforehand.
For PP, the current offers for Indian PP Homo Raffia to Bangladesh went up by $20/ton on a weekly comparison. Similar to PE, no fresh offers for PP from Middle Eastern suppliers. SSESSMENTS.COM was told that most Middle Eastern suppliers have closed orders since last week as they already sold out their cargoes to the Bangladesh market last week; 70% from the total customers have secured enough cargoes from the Middle Eastern suppliers by then. As such, this week’s sales for PP are rather slow, still, the trader managed to conclude some deals with Bangladeshi buyers.
Overall, buying sentiment in the Bangladesh market is quite good this week. However, the banking issues persisted and slowed down the business; fortunately, not as abhorrent as a few weeks ago. The trader also mentioned the delayed shipment of cargoes from the leading Indian petrochemical producer. Citing that the producer is prioritizing the shipment for high-priced cargoes, hence, there is some delay for old orders as the cargoes were booked at lower prices. However, the trader’s current cargoes are not from the leading Indian producer, therefore, there are no such issues, as told to SSESSMENTS.COM.
Looking ahead, the trader opined to SSESSMENTS.COM that import PE and PP prices will likely to remain firm in the near term as supported by the firm feedstocks prices. However, the trader also doubted that the trend will be long-lived considering the soft demand.
Import PE, PP offers on LC at sight, CFR Bangladesh Main Port basis
Tags: Asia Pacific,Bangladesh,English,ISC,India,News,PE,PP
Published on July 1, 2020 5:34 PM (GMT+8)
Last Updated on July 1, 2020 5:35 PM (GMT+8)