A global trading house informed SSESSMENTS.COM the adjustment on import PP offers to Bangladesh received a cold response in line with the approaching Eid Al-Fitr holiday. Compared to a week earlier, the trader’s offers for import Saudi PP Homo Raffia cargoes to Bangladesh market increased between $30-40/ton. Likewise, the offers for Indian PP Homo Raffia cargoes also captured higher by $10/ton compared to the same period, available at $850/ton. However, other traders are offering at $825/ton for this week. Pertaining to the adjustment, the trader stated that selling to the Bangladesh market is not the company’s priority. Hence, the offers are always higher compared to the other regions. All offers are on LC at sight, CFR Chittagong Port.
For market response, the trader stated that the offers around $820-830/ton-level should have been quite workable for small-to-medium buyers. However, there is no order submitted by the customers yet in line with the approaching Eid Al-Fitr. “We are unsure if buyers are willing to place an order within this week. Moreover, the country’s nationwide lockdown is extended until May 16,” the trader added to SSESSMENTS.COM.
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