A marketing arm of a Qatari PE producer stated to SSESSMENTS.COM that the producer has halted offering to Malaysia market this week. On the week commencing January 20, the producer decided to cease offering PE cargoes to Malaysia market due to the Lunar New Year holiday. Additionally, most of Middle Eastern PE producers have not announced any fresh offers for February shipment yet.
Further added by the source, the producer is currently discussing the allocation for February shipment by taking into account the upcoming maintenance shutdown at the company’s plant. While in terms of offers, the producer is planning to increase the export offers between $30-40/ton as from last week’s level. However, if the buying sentiment is not so encouraging after the Lunar New Year holiday, the producer might only increase the offers between $20-30/ton. The marketing arm stated to SSESSMENTS.COM, “All the price increases will depend on the demand condition; if demand remains slow, a significant increase in prices would not be workable as it will counterbalance the impact of tight supply.”
Export PE offers on LC at sight, CIF Malaysia Main Port basis
Tags: Asia Pacific,English,EN PE SEA NSS,Malaysia,NewsSSESSMENTS,Polyethylene (PE),Southeast Asia Import PE prices,Malaysia PE Prices,PE Prices
Published on January 23, 2020 12:30 AM (GMT+8)
Last Updated on January 23, 2020 1:48 AM (GMT+8)