A global trading house shared with SSESSMENTS.COM on the big gap between bids and offers for Taiwanese PVC producers May shipment along with a further discount for US cargoes. Currently, the trader is offering ethylene-based PVC of Taiwan origin to the Bangladesh market at $700/ton on LC at sight, CIF Bangladesh Main Port basis. However, the shipment is for mid-May as it is not possible to deliver in April due to Coronavirus lockdown. So far, buyers’ bids that have been submitted were mostly at $50/ton lower than the initial offers. Moreover, the trader is also offering US ethylene-based PVC cargoes at $20/ton lower than last week’s level. To lure buyers, the trader is willing to sell between $30-40/ton lower than the level of the initial offers.
At the time of publication, no deals concluded yet since the Bangladesh market is muted amid the lockdown scenario. Speaking of lockdown, SSESSMENTS.COM was told that on April 10, the Bangladeshi government has extended the nationwide lockdown for the second time as the number of confirmed Coronavirus cases continues to rise. According to the government's announcement, the lockdown period is prolonged by 11 days to April 25.
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