A Vietnamese trader cited that the current import PE and PP prices are settling in a distinct trend while demand for both grades shows the same performance. As reported by the trader to SSESSMENTS.COM, this week’s offers for import Middle Eastern and Southeast Asian HDPE Film, as well as Middle Eastern LLDPE Film C4, remained stable from last week’s levels. Meanwhile, import PE offers of South Korea and Thailand origins were absent this week. Particularly for PE cargoes of Thailand origin, the number of offers in the Vietnam market is scanty since the Thai PE producer prefers to sell their cargoes to the China market.
For PP cargoes, SSESSMENTS.COM was told that import PP Homopolymer grades of Saudi origin to the Vietnam market increased between $20-30/ton compared to a week earlier, available at $920-930/ton. However, such a level is quite high as compared to buyers’ buy ideas; which are only at $890-900/ton or $30/ton lower than the initial offer level. All offers are on LC at sight, CIF Vietnam Main Port basis. Similarly, offers for PP Homopolymer grades of India origin are also available at the same level as Saudi cargoes.
Demand-wise, the trader informed SSESSMENTS.COM that buying sentiment for both PE and PP resins has improved compared to last week as customers are more willing to purchase materials. Furthermore, the trader mentioned that shipment for US PE cargoes to the Vietnam market will be delayed for around two months, yet no detailed information is revealed.
Import PE, PP Offers on LC at sight, CIF Vietnam Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Middle East | HDPE Film | Offer Received | 820-870* |
| Southeast Asia | HDPE Film | Offer Received | 820 |
| Middle East | LLDPE Film C4 | Offer Received | 840* |
| Indian Subcontinent | PP Homo Injection | Offer Given | 920-930 |
| Middle East | PP Homo Injection | Buy Idea | 890-900 |
| Middle East | PP Homo Injection | Offer Given | 920-930 |
| Indian Subcontinent | PP Homo Raffia | Offer Given | 920-930 |
| Middle East | PP Homo Raffia | Buy Idea | 890-900 |
| Middle East | PP Homo Raffia | Offer Given | 920-930 |
Description: *Shipment from Singapore
Tags: Asia Pacific,English,ISC,India,Middle East,News,PE,PP,SEA,Saudi Arabia,Vietnam
Published on June 16, 2020 5:28 PM (GMT+8)
Last Updated on June 16, 2020 5:28 PM (GMT+8)
