A global trading house informed SSESSMENTS.COM on the company’s sell idea for import Saudi PE and PP cargoes to Indonesia. According to the trader, this week, no fresh offers received yet from a Saudi PE producer as the offers are expected to come out by next week. Buyers mostly voiced out buy ideas for HDPE Film and LLDPE Film C4 between $790-800/ton on LC at sight, CIF Indonesia Main Port basis. However, the trader believes that the producer would not quote offers at such a level. Selling idea from the trader for these cargoes is at least at $50/ton higher than buyers’ buy idea. More added, the producer will most likely provide normal allocation.
As for PP, offers for Saudi PP Homo Raffia via the trader are $30/ton higher compared to last week’s deal level. The trader is only willing to sell these cargoes at $10-20/ton lower than the initial offer level due to limited allocation. As such, buyers’ bid at the same level to last week’s deal at $920/ton was rejected. Further explained, due to the price increment, most buyers regret not purchasing cargoes last week when the prices were lower. Demand-wise, overall sales for PE and PP cargoes from the trader’s end are quite healthy, SSESSMENTS.COM was told.
