A manufacturer in India told SSESSMENTS.COM that labour issues slashed the company’s opportunity to fulfil orders from the export market. Recently, the manufacturer received big orders from the U.S. However, the manufacturer was unable to accept the orders due to low labour force. To provide the amount of products ordered, the manufacturer needs to run at maximum capacity. At the moment, the factory is only able to run between 70-80% of the normal capacity. According to the manufacturer, demand for food packaging and essential products remains healthy while demand from other sectors is still unimproved.
Pertaining to offers, the manufacturer informed SSESSMENTS.COM that trend on import PE offers across all grades has yet to shift. Compared to last week, offers for HDPE Film from Saudi increased between $10-20/ton. Meanwhile, offers for US HDPE Film and LDPE Film went up by $10/ton and between $20-30/ton, respectively. After the adjustments, offers for US LDPE Film reached $1,000/ton on LC at sight, CIF India main port basis. The manufacturer further commented that most buyers in India show resistance on high offer levels. Hence, market talks have it that some suppliers decided to move cargoes to Pakistan. Looking ahead, most market players expect to see downward adjustments on PE offers in the upcoming weeks.
