An Indian trader contacted by SSESSMENTS.COM shared an optimistic outlook considering positive PE price movement and domestic demand improvement. In comparison to a week earlier, the offers for HDPE Film cargoes of US origin captured higher by $30/ton. Likewise, the offers for LDPE Film of United Arab Emirates origin also moved higher between $20-40/ton compared to the same period. As the offers were just coming out on Tuesday, the trader has not received any feedback from customers. However, the trader expects that there will be some deals closed within this week considering the uptrend in local prices.
Currently, demand for PE resins in India is considered satisfactory. Although the labor shortage hinders converters from running at maximum capacity, the issues should have been handled gradually. “As such, we are expecting the demand to continue improving onwards as the overall market condition is predicted to improve in June,” the trader added to SSESSMENTS.COM.
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