A global trading house informed SSESSMENTS.COM that this week, most suppliers have withdrawn import PE and PP offers to Bangladesh. As explained by the trader, the suppliers prefer to sell cargoes to China market due to the higher prices. Hence, at the moment, the trader is waiting for new PE, PP offers from the suppliers. The trader expresses sell idea for Middle Eastern LLDPE Film C4 at $750/ton on LC at sight, CIF Chittagong Port. While sell idea for LDPE Film and PP Homo Raffia of the same origin at $850/ton on the same payment and delivery term.
More added, the limited transaction recorded as payment issue persists. Buyers could not open a Letter of Credit (LC) even if deals concluded. Moreover, with the extended lockdown until April 25 in Bangladesh, the trader opined that market outlook will remain gloomy, as stated to SSESSMENTS.COM.
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