On June 25, July shipment PE and PP offers from one of the Middle Eastern producers surfaced in the Southeast Asia market with remarkable adjustments. As reported to SSESSMENTS.COM, a Thai trader has received July shipment offers for HDPE Film and LLDPE Film C4 of Middle East origin, each at $130-140/ton and $120/ton higher compared to June. Whereas via a global trading house, the offers for Middle Eastern LLDPE Film C4 surged by $140/ton compared to the same period. Behind the notable increase, the Thai trader was notified that the producer is having supply issues on their end. Currently, the producer’s supply is quite limited and expected to get tighter in August. However, no further explanation regarding the supply issues. Responding to the offers, the Thai trader decided not to take the cargoes since the offers are deemed too high.
On the other side, a Philippines converter also received July shipment PE and PP offers from the Middle Eastern producer. For PE cargoes, the converter received offers for LLDPE Film C4 at $100/ton higher than last month’s level. Likewise, for PP cargoes, SSESSMENTS.COM was told that the producer’s offers for PP Homo Film skyrocketed by $130/ton compared to the same period. Although the prices are considered too high, the converter decided to secure some volume on the back of low inventory on the converter’s end, especially for PP Homo Film.
