A trader in the Philippines informed SSESSMENTS.COM that foreign suppliers are trying to utilize the current momentum, however, buyers’ stance might shift the price trend. The source unveiled that some deals for Singaporean HDPE Blow Moulding achieved at $860/ton on LC at sight, CIF Manila Port. In term of feedback, the overall response from buyers towards offers for Singaporean cargoes was not that overwhelming, since, at the same time, Malaysian HDPE Film cargoes are available at $830/ton with the same payment and shipment term.
From other origins, offers for HDPE Film from Thailand increased by $20/ton as compared to last week’s level. However, the deals for Thai HDPE Film and LLDPE Film C4 were concluded at $5/ton lower than the initial offer levels. For LDPE Film, the Thai producer has no allocation at the moment. From a Qatari producer, offers for LDPE Film and LLDPE Film C4 stand at $880/ton and $840/ton respectively, all on LC at sight, CIF Manila Port. However, no deals were concluded for Qatari cargoes so far. Further added by the trader, suppliers are trying to push the prices up, citing the higher feedstock prices. However, buyers show resistance as the offers deemed too high. As such, strong resistance from buyers might eventually lead to downward price correction in July, SSESSMENTS.COM was told.
