This week, import polyolefins prices continue to soar and sellers disregard the stiff resistance from Vietnamese buyers, SSESSMENTS.COM noted. Based on the information provided by a Vietnamese trader, this week’s offers for import PE and PP cargoes from across different origins emerged at a higher level. For PE, on a weekly comparison import offers from the leading Saudi polyolefins producer for LLDPE Film C4 raised by $10/ton, while for HDPE Film remained at a stable level. At the moment, the trader said the lowest offers for PE cargoes are coming from India for LLDPE Film C4 at $840-850/ton on LC at sight, CIF Vietnam Main Port basis. Whereas for PP, July shipment offers for both Saudi and South Korea PP Homo Raffia surged between $60-70/ton compared to June. From another Saudi producer, a mainstream supplier to Vietnam, import offers for PP Homo Raffia went up by $40/ton on a weekly comparison.
The trader commented that the current import PE and PP prices in Vietnam is the highest among other Southeast Asian countries. Still, no buyers are willing to purchase as they are reluctant towards high prices. Besides, domestic demand has yet to show any improvement since last week and remains on a bearish note, as told to SSESSMENTS.COM.
In the days to come, the trader contacted by SSESSMENTS.COM believes that import PE and PP prices will not be adjusted down anytime soon considering the firm crude oil and monomer prices. Instead, the room for further upward adjustments remains wide-open, the trader further added.
