- On May 28, the Philippines announced the gradual lifting of two-month-long lockdown restrictions in selected areas of the country starting from early June, despite a steady increase in confirmed cases. Most regions will be placed under General Community Quarantine (GCQ) starting June 1. Previously, on May 12, the government extended its Enhanced Community Quarantine (ECQ) measures in Metro Manila and other high-risk areas for additional two weeks until May 31, while placing the rest of the country under GCQ. However, the marketing arm of a Middle Eastern PE producer pointed out that the company is still scrambling to sell materials in the Philippines despite the relaxation of lockdown restrictions. In terms of offers, SSESSMENTS.COM was told that the producer maintained a stable offer level for HDPE Film, LDPE Film, and LLDPE Film C4 as compared to last week’s level, with some transactions concluded at the initial offer level. However, the producer closed some deals at $10/ton lower than the initial offer level to selected customers. At the moment, the producer is running low on LLDPE Film C4 allocations.
- As feedstock prices surge, most Thai suppliers expressed their sell idea for PE grades at a higher level this week. One of the traders contacted by SSESSMENTS.COM voiced out sell ideas for HDPE Film and LLDPE Film C4 between $850-900/ton on LC at sight, CIF Southeast Asia Main Port basis. For LDPE Film, the trader commented that most buyers would most likely accept an offer level between $910-920/ton with the same payment and delivery term this week due to striking demand and relatively tight supply. Further added, Thai traders do not have any sales pressure to date as most had sold their allocations to China market previously. At the moment, traders are struggling to clear the backlogs; thus having limited allocations to sell.
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