A Thai trader contacted by SSESSMENTS.COM stated that August shipment PE offers from a Middle Eastern producer to the country are deemed unsuitable with buying sentiment. As reported, the trader has received August shipment offers for Middle Eastern HDPE Film and LLDPE Film C4 with notable adjustments. Compared to July shipment, the offers surged by $70/ton for HDPE Film and $30/ton for LLDPE Film C4. At the time of publication, the trader has placed bids for LLDPE Film C4 cargoes at $930/ton or by $20/ton lower than the initial offer and is currently waiting for the supplier’s response that is expected to be received by this Wednesday after the Thailand market returned from long weekend.
The trader further added to SSESSMENTS.COM that the price at $950/ton-level for both Middle Eastern HDPE Film and LLDPE Film C4 is too high and unworkable, especially when buying sentiment in the domestic market is in bearish tone as an impact of the political tension between China and the US. Besides, the downtrend in China will eventually drag down PE prices in the Southeast Asia market.
