A Singapore-based trader informed SSESSMENTS.COM that the company has started announcing August shipment offers for PE cargoes to Cambodia and Malaysia market this week. On the monthly comparison, August shipment offers for Saudi LLDPE Film C4 to Cambodia and Malaysia increased by $50/ton. Initially, buyers from both countries submitted bids at $890/ton on LC at sight, CIF Main Port basis, or $30/ton lower than the initial offer levels. However, the trader rejected the bids. Deals to both countries were eventually concluded at $10-20/ton lower than the initial offer levels.
In Malaysia, SSESSMENTS.COM noted that deals were achieved at $20/ton lower than the initial offers at $900/ton as buyers were reluctant to purchase import LLDPE Film C4 cargoes above $900/ton-level. Demand in Malaysia still can be categorized as healthy even though buyers only purchased on a need basis. More added by the trader, the volume taken by Malaysian buyers for August shipment is stable compared to July shipment.
While in Cambodia, the trader managed to sell the cargoes at $10/ton higher than deals level in Malaysia due to a higher acceptance level around $900-910/ton-level. However, despite better acceptance, the trader stated that the PE market in Cambodia is not as healthy as Malaysia due to slow demand for the finished product, especially from the garment sector, SSESSMENTS.COM was told.
