A global trading house revealed to SSESSMENTS.COM that bids for US PVC cargoes placed at three digits lower than the initial offer level. In Bangladesh, the trader was offering PVC cargoes of US origin at $700/ton on LC at sight, CFR Chittagong Port. Responding to the offer level, most customers were placing bids at $600/ton with the same payment and delivery terms, or $100/ton lower than the initial offer level, which got rejected by the trader. To date, the trader has not successfully concluded any transactions. For the outlook, the trader voiced out that the market will remain bearish in the days to come as Bangladesh saw sharp rises in the number of Coronavirus cases.
Import ethylene-based PVC offers on LC at sight, CFR Chittagong Port
