A Vietnamese trader contacted by SSESSMENTS.COM unveiled that Indian PE and PP cargoes showed distinct movement among other import offers of various origins. Import HDPE Film and LLDPE Film C4 offers from a Saudi polyolefins producer are available at $930/ton. Buyers submitted bids at $30/ton lower than the initial offers for these cargoes as the offers were deemed too high. However, as the bids perceived too low, coupled with limited availability, the trader has turned down the bids. From the same origin, import PE and PP offers from the leading Saudi polyolefins producer are not available this week since the producer has sold all of the allocation.
As compared to a fortnight ago, South Korean HDPE Film cargoes increased by $20/ton, standing at $950/ton. While import offers are mainly on the high note, SSESSMENTS.COM captured that the leading Indian petrochemical producer decided to adjust down the offers for LLDPE Film C4 and PP Homo Raffia by $15/ton during the same time comparison. All import offers are on LC at sight, CIF Vietnam main port basis.
In terms of demand, Vietnam’s PE and PP market is very quiet this week. The rainy season in the Northern part of the country and the hot season in the Southern part of the country has dampened buying appetite. Other than that, the rising concern regarding the current situation in central Vietnam also gave a bad influence as it led to logistic disruption. Added to that, most buyers are anticipating the arrival of import materials in the near term, hence, customers are not in a rush to replenish their inventory. In the days to come, the trader opined that the slow PE and PP demand will drag down the prices, as stated to SSESSMENTS.COM.
