Market sources reported to SSESSMENTS.COM that a Middle Eastern PE producer adjusted offers to the Southeast Asia market, but buyers placed bids at the old offer levels for HDPE Film and LLDPE Film C4 due to being unable to accept the current levels. Compared to a week ago, the producer increased offers for HDPE Film between $20-30/ton, LDPE Film between $10-20/ton and LLDPE Film C4 between $50-60/ton. The producer’s sales at the new offer levels were unsatisfactory.
Market sources commented that stiff resistance shown by buyers was also owing to slowly recovering demand for the end-products. Moreover, buyers noted that usually after applying hefty upward adjustment, suppliers would revise offers to suit buyers’ acceptance level. Market sources further commented to SSESSMENTS.COM that current offers for Middle Eastern PE cargoes seen in the market are unworkable. Buyers in the Southeast Asian countries tend to purchase regional cargoes or US cargoes already sitting at nearby ports.
Import PE offers on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Middle East | HDPE Film | Offer Given | 860-870 | Indonesia |
| Middle East | HDPE Film | Bid Received | 820-830 | Indonesia |
| Middle East | HDPE Film | Offer Given | 860-870 | Malaysia |
| Middle East | HDPE Film | Bid Received | 820-830 | Malaysia |
| Middle East | LDPE Film | Offer Given | 890 | Indonesia |
| Middle East | LDPE Film | Offer Given | 890 | Malaysia |
| Middle East | LLDPE Film C4 | Offer Given | 850-860 | Indonesia |
| Middle East | LLDPE Film C4 | Bid Received | 800-820 | Indonesia |
| Middle East | LLDPE Film C4 | Offer Given | 850-860 | Malaysia |
| Middle East | LLDPE Film C4 | Bid Received | 800-820 | Malaysia |
Tags: Asia Pacific,English,Indonesia,Malaysia,Middle East,News,PE,SEA
Published on June 18, 2020 5:13 PM (GMT+8)
Last Updated on June 18, 2020 5:13 PM (GMT+8)
