Import PE offers on LC at sight, CIF Vietnam Main Port basis
Description: *All offers from Saudi are for June ShipmentA Vietnam converter shared their prudent stance with SSESSMENTS.COM following the June shipment PE offers received from a Saudi producer. For HDPE Film cargoes, the offer stands at $740/ton, while LDPE Film and LLDPE Film C4 at $860/ton and $740/ton respectively. HDPE Film was quoted at $10/ton higher on the low-end and $10/ton lower on the high-end of the price range available last week. LLDPE Film C4 offers were also up by $20/ton while LDPE Film remained stable from last week. All offers on LC at sight, Vietnam Main Port basis.
The converter decided to take some volume for Saudi PE cargoes at the initial offer levels after converter found that the producer is ready to move the cargoes to the China market, indicating that the offer is firm, SSESSMENTS.COM was told. Meanwhile, the converter skipped purchasing HDPE Film of US origin offered at $730-750/ton on the same payment and delivery term, which is $20-40/ton higher than last week's deal level.
The converter then reported to SSESSMENTS.COM that their end-product demand is still going good with production rates keep at 90-95% of normal capacity. For the outlook, the converter opined that import PE prices will remain firm onwards, as such, they will continue to adopt a cautious stance while keeping purchases on an as-needed basis.
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Tags: Asia Pacific,English,News,PE,SEA,Vietnam
Published on May 15, 2020 1:44 PM (GMT+8)Last Updated on May 15, 2020 1:44 PM (GMT+8)
