SSESSMENTS.COM noted that import PE offers of US origin drew various responses from Asian market players. In Indonesia, a converter informed that the offers for US LLDPE Film C4 increased significantly by $75/ton from last month with deals concluded at $10/ton lower from the initial offer level at $820/ton. Likewise, a global trading house stated that the offers for US LLDPE Film C4 recorded at $870/ton, which is $40/ton higher from a month earlier. Bids were submitted at $45/ton lower than the initial offer level and it was rejected. On the other hand, another converter is on a dilemma on whether to purchase US LLDPE Film C4 cargoes at $830/ton or not. A trader also revealed that the company received US HDPE Film and LLDPE Film C4 offers with cargoes available at Port Klang, Malaysia at $920/ton and $880/ton, respectively. However, the trader decided to skip the procurement activity as the offers are deemed too high. All offers on LC at sight, CIF Indonesia Main Port basis.
Meanwhile, in Vietnam, a converter received US HDPE Injection offers at $885/ton on LC at sight, EXW basis. The converter submitted bids at $20/ton lower than the initial offer level for 100 tons of purchases, however, the bids were rejected as there are only 70 tons left and the next offers will be higher. Moving to Malaysia, a converter reported to SSESSMENTS.COM that the company secured 170 tons of US HDPE Film cargoes at $890/ton. From another US producer, deals for HDPE Film were concluded at $910/ton. All offers on TT, EXW Port Klang basis. The converter also received US HDPE Film offers at $930/ton with shipment directly from the US but there is no deal concluded due to the long lead-time. For mLLDPE C6, the offers from a US producer to Malaysia were stable on a weekly comparison, available at $900/ton on LC at sight, EXW Port Klang basis with deals concluded at the initial offer level since the offers are attractive.
A Philippines converter added to SSESSMENTS.COM that LLDPE Film C4 offers from a US producer are available at $20/ton higher from a fortnight ago. For mLLDPE C6, the producer offers at $1,090/ton on LC at sight, CIF Main Port basis, and the offers did not include the customs duty. Once the duty is added, the price will be $40/ton higher. The converter stated that the cargoes will be shipped directly from the US and the company decided not to make purchases as the offers are not attractive.
Speaking about other Asia markets, sources reported to SSESSMENTS.COM that US HDPE Film and LLDPE Film C4 cargoes are being offered at $840/ton and between $830-860/ton on LC at sight, CIF China Main Port basis but there are no deals concluded yet. To the South Asia market, the offers for US LDPE Coating cargoes via global trading houses are captured between $80-100/ton higher from last week. Pertaining to the increases, sources are unsure of whether the trader just utilizes the current momentum to raise the offers or it is following the producers’ pricing decision. To Bangladesh, market sources also received offers at $860/ton on LC at sight, CFR Main Port basis, yet there are no deals recorded so far since there are no inquiries for US materials from converters in the country. While in Pakistan, there were some deals concluded at $900/ton on LC 90 days, CFR basis in the previous week.
