A local trader in Indonesia informed SSESSMENTS.COM on the reason why the company decided to delays procurement for import PE cargoes. This week, the trader received import offers for Middle Eastern HDPE Film and LDPE Film cargoes at $740/ton and $810/ton, respectively, on LC at sight, CIF Indonesia Main Port basis. However, the trader prefers to delay procurement for these cargoes considering the weak market for HDPE Film and LDPE Film. Moreover, most of the Indonesian market players will be off from the end of this week. Likewise, the trader is not interested to take US LLDPE Film C4 cargoes at $60-70/ton higher from a fortnight ago, which ready in Port Klang, Malaysia as the offers deemed too high.
On the trader’s end, SSESSMENTS.COM noted that the company managed to sell Indian and Middle Eastern LLDPE Film C4 cargoes at the same level to the initial offers at $730/ton and $740/ton, respectively on the same payment and delivery terms.
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