SSESSMENTS.COM was told that import PE offers to Australia moved in tandem, thus, the trader voiced out a positive outlook. In comparison to a week earlier, the offers for HDPE Blow Moulding from a Thai producer were kept stable citing limited allocation. The producer informed that the company had to cut its operating rate around 40% from the normal capacity due to the drought in Thailand. Hence, the allocation is limited. For mLLDPE C6 of Singapore origin, the offers are available at $980/ton on LC at sight, CIF Australia Main Port basis, and deals were concluded at the initial offer level.
Meanwhile, another Thai producer adjusted the offers for HDPE Pipe Black (100) by $85/ton higher compared to a fortnight ago claiming that the allocation for May shipment is almost sold out. The trader stated to SSESSMENTS.COM that the firm prices have a limited impact on their end as they already purchased some volume from the producer before the price adjustments. The trader added that the allocation for HDPE Pipe Black (100) from the producer to Australia market is around 900 tons.
Further added to SSESSMENTS.COM, the Australian market is gradually improving week by week. The trader commented that the price has bottomed out, hence, the company is predicting that the offers will remain firm onwards.
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