After the Eid Al-Fitr holiday, a global trading house foresees a positive outlook for the PE market in Bangladesh. As informed to SSESSMENTS.COM, this week, the trader adjusted up offers for import LDPE Film and LLDPE Film C4 between $40-50/ton compared to the price levels before Eid Al-Fitr Holiday. The trader maintains firm offers for Indian and Saudi LLDPE Film C4 at above $800/ton-threshold level. While for US LLDPE Film C4 cargoes, no offers to Bangladesh, citing that all allocation for these cargoes has been sold out to other markets. As for LDPE Film, the trader sold Malaysian LDPE Film at the same level to the initial offers at $950/ton on LC at sight, CFR Chittagong port. However, the trader stated that those offers are no longer valid as of June 2 and plans to adjust up offers for Malaysian LDPE Film to $1,000/ton-level in the near term.
The overall PE demand in Bangladesh is not strong yet as market players just get back from Eid Al-Fitr Holiday. Most buyers still wary and prefer to evaluate the market more before making any procurements. However, the trader believes that buyers will start to place inquiries and orders by next week. Additionally, offices and businesses starting to open with reduced working hours from 10 am to 4 pm. While factories also resumed production after the holiday; however, no further information about current production rates. The trader opined to SSESSMENTS.COM that considering the firmer feedstock prices, PE prices are expected to remain in the upward trend for the upcoming weeks. While PE demand is expected to gradually improve as more countries will start to reopen businesses.
Click below to view related stories and content on Bangladesh PE:
MonthlySSESSMENTS: May Bangladesh PE Prices
WeeklySSESSMENTS: Bangladesh PE Prices Week Starting May 18
AlwaysFree: Bangladesh Economy To Experience Slowdown In Next 18 Months
