A global trading house expressed an opinion to SSESSMENTS.COM that import PE and PP offers to Vietnam should not be adjusted further to match buyers’ acceptance level. From the trader’s end, done deals remain limited as converters are showing resistance towards the high offers in the market. In terms of prices, the offers for Saudi LDPE Film and US LLDPE Film C4 recorded between $880-900/ton and $800/ton respectively, and the cargoes will be shipped from Malaysia. The trader stated that the company attempted to increase offers for US LLDPE Film C4 cargoes to $840/ton-level. However, there is no response from the market as customers’ buy idea is at $750-760/ton. For import PP Homo Raffia cargoes of India origin, the offers are available at $880/ton and buyers are also unwilling to make procurement at such a level. All on LC at sight, CIF Vietnam Main Port basis.
The trader explained to SSESSMENTS.COM that PE resins demand is highly affected by finished products sales. As there is no improvement noted in finished product sales, demand for PE resins remains slow as well. “Although crude oil prices continue to rally, the offers should keep stable at the current level to match buyers’ acceptance level,” the trader opined.
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