Competitive offers from Indian producers failed to gain attention from Bangladesh PE market players. A global trading house revealed to SSESSMENTS.COM that since two weeks ago, the leading Indian petrochemical producer maintained the offers for LLDPE Film C4 stable at $960/ton. However, the offer was deemed too high as compared to the offers from another Indian polyolefins producer, which stand at $925/ton. The trader learned that the leading Indian petrochemical did not adjust the offers as they are still focusing to clear the backlogs. All import offers on LC at sight, CFR Chittagong Port.
Bangladeshi market players remain unresponsive towards PE offers as the flood aggravates the overall demand in the country. The source opined to SSESSMENTS.COM that the transaction in Bangladesh PE market will be limited this week. Besides, Bangladeshi market players are already in holiday mood due to the Eid al-Adha celebration. The business will be closed from Thursday, July 30, until the middle of next week.
Looking ahead, since demand for PE cargoes is not on the positive note, it could lead to a downward price adjustment. Added to that, the downtrend in China’s PE market is expected to give an impact on Bangladesh PE market, SSESSMENTS.COM was told.
