As import Saudi PE offers to the country have gained momentum, a Vietnamese trader foresees a bright outlook. As reported to SSESSMENTS.COM, a Vietnamese trader received several import offers for PE cargoes earlier this week. For May shipment, a Saudi producer offered both HDPE Film and LLDPE Film C4 at $740/ton, an increment of $20/ton from last month. The producer also offered LDPE Film at $840/ton, where the price has no comparison due to the absence of offers for the same grade last month. All offers on LC at sight, CIF Ho Chi Minh Port.
Meanwhile, the leading Saudi polyolefins producer contacted by trader offered HDPE Film and LLDPE Film C4 at $770/ton and $750/ton, with no changes from the previous offer received last week. The trader also told SSESSMENTS.COM that import offers for HDPE Film of US origin appeared at $700/ton. All on LC at sight, CIF Ho Chi Minh Port. As for PP cargoes from China and South Korea, fresh offers were not yet available due to Labor Day holiday.
The trader then commented to SSESSMENTS.COM that positive sentiment is forming from the customers’ side with the number of inquiries received increases compared to last week. Even so, the inquiry does not translate into deals as most are waiting for the Chinese market to resume to get a clearer picture. The trader expects the number of deals to increase by the end of this week. Likewise, the trader is expecting to see a slight increase in import PE prices in the near term.
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