A Vietnamese converter shared with SSESSMENTS.COM that demand in the country cannot support any significant upward adjustments on import PE and PP offers. According to the converter, import PE and PP offers remain on the uptrend, with notable upward price adjustment captured on the offers for HDPE Film. On a monthly comparison, import HDPE Film offers of Kuwait origin surfaced with increases of between $90-100/ton. Since the offers were deemed too high, the converter did not purchase the cargoes and preferred to wait for offers from other foreign suppliers. For LLDPE Film C4, the Kuwaiti producer also increased offers by $10/ton as compared to the same period. Unlike HDPE Film, the converter secured some volume for LLDPE Film C4 with deals concluded at $5-15/ton lower than the initial offer level.
As for PP, Saudi origin PP Homo Raffia cargoes surfaced with an increase of $60/ton as compared to the offers received at the beginning of July. The converter managed to secure the cargoes at $30-40/ton lower than the initial offer level. For regional cargoes, import PP Homo Raffia cargoes of Thailand origin stood at an unreasonably high level, at $1,050/ton on LC at sight, CIF Vietnam main port basis. The converter told SSESSMENTS.COM that the Thai producer does not have an allocation to sell. Further added, demand for PE and PP is considered steady, yet import offers for both grades are way too high.
