- A marketing arm of a Middle Eastern PE producer commented to SSESSMENTS.COM that the company is keeping stable offers to the Philippines market for LDPE Film and LLDPE Film C4 cargoes, available at $840/ton and $750/ton respectively, on LC at sight, CIF Manila Port. Buyers are still asking for some discount citing that their business is slowing down amid the lockdown. While for HDPE Film, no offers given as most buyers are mostly taking local cargoes. Moreover, with 10% customs duty for import HDPE Film, the offers will be uncompetitive. Demand-wise, demand for plastic packaging is only estimated at around 30% from normal at the moment. No significant changes were seen in the Philippines PE market even after the government modified the Enhanced Community Quarantine (ECQ) status for Metro Manila. Most of the source’s customers are still running below 50% from normal production. The source opined that the PE market in the Philippines will remain slow onward.
- Meanwhile, in Indonesia, a local trader informed SSESSMENTS.COM that the company received firm offers for local HDPE Film and LLDPE Film C4 from the leading Indonesian polyolefins producer’s distributor at IDR12,800,000/ton ($865/ton) and IDR11,800,000/ton ($798/ton) respectively, on 30 days credit term, FD Indonesia basis and excluding 10% VAT. However, the trader is not sure whether buyers will accept the offers or not. Deals are getting scarce ahead of the Eid Al-Fitr holiday. On the supply side, the availability of HDPE Film from the leading Indonesian polyolefins producer remains limited. In contrast, the trader stated that the producer has sufficient inventory for LLDPE Film C4 cargoes.
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