A global trading house thinks that producers are too early in making a move in the Bangladesh market. A global trading house commented that PE offers to Bangladesh continue to go up this week. For LDPE Film, an Indian PE producer quoted offers at $1,010-1,030/ton, which is between $30-50/ton higher from a fortnight ago. Meanwhile, LLDPE Film C4 offers stand at $950/ton, increased by $40/ton compared to last week. The trader heard that other traders offered India’s LLDPE Film C4 at $20/ton higher than the producer's quotation. For PP cargoes, a Saudi producer managed to conclude deals for PP Homo Raffia after the offers reduced by $10/ton from last week’s level. SSESSMENTS.COM pricing database showed that the deals for the cargoes were concluded at $950/ton. All import offers on LC at sight, CFR Chittagong Port.
The trader added that they are surprised seeing PE price movements in which continue to go up week by week. The picture is different for PP cargoes in which have a hard time since demand is not strong enough. Therefore, the trader returned some PP allocation to the producer. Overall, Bangladesh market activities are rather quiet this week because usually, buyers are finishing the deals after 25th of the month. The trader told SSESSMENTS.COM that market activities might come back next week with manufacturers need to complete procurement for next month’s earlier before leaving their desks to celebrate Eid Al-Adha.
For outlook, trader shared with SSESSMENTS.COM that import PE offers to Bangladesh market will continue to move up in the near term. Meanwhile, import PP offers will most likely be stable for time to come.
