An Indonesian trader informed SSESSMENTS.COM that a Qatari producer is planning to adjust the offers for LLDPE Film C4 to Indonesia to catch up with other Middle Eastern producers. In comparison to a week earlier, the offers for import PE cargoes across all grades are generally stable. While for LLDPE Film C4 of Qatar origin, the trader stated that the producer is planning to increase the offers as the current offer level is deemed too low compared to the other Middle Eastern origins cargoes. At the moment, most Middle Eastern producers are offering LLDPE Film C4 at $700/ton-level, while the offers from this Qatari producer available between $680-690/ton-level on LC at sight, CIF Indonesia Main Port basis. Thus, the producer is most likely to increase the offers for LLDPE Film C4 up to $700/ton-level.
The trader revealed to SSESSMENTS.COM, customers are submitting bids at $650/ton on LC at sight, CIF Indonesia Main Port basis for Qatari LLDPE Film C4 cargoes. However, the trader is unable to accept the bids and doubt that any suppliers will be willing to accept bids at that level. For US LLDPE Film C4, the offers are available at $700/ton with the same payment and delivery terms, and there is still room for negotiation. At the time of publication, the trader has not received offers for Saudi cargoes yet.
Regarding the market condition, demand remains sluggish as the market is affected by the Coronavirus outbreak in Indonesia. Although the BMDTP (Custom Duty Borne by Government) will come soon, there is still no sign of improvement seen in the market, SSESSMENTS.COM was told.
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Import PE offers on LC at sight, CIF Indonesia Main Port basis
Tags: Asia Pacific,English,Indonesia,Middle East,News,PE,SEA
Published on April 28, 2020 1:24 PM (GMT+8)
