A Malaysian converter contacted by SSESSMENTS.COM opined that the current import PE prices to the country have reached its peak and is expected to shift in the upcoming month. Last week, import PE offers to the country were adjusted up within two days interval. On June 2, the converter purchased US LLDPE Film C4 for July shipment at $755/ton on LC at sight, CIF Malaysia Main Port basis. Two days later, the converter purchased LLDPE Film C4 cargoes from the same origin at $15/ton higher. While this week, deals for July shipment of Qatari LLDPE Film C4 concluded at $780/ton on the same payment and delivery terms.
Considering firm PE offers coupled with sufficient inventory on hand, the converter prefers to stop procuring for the time being. Moreover, finished product demand from the converter’s end remains slow as the number of orders has not improved yet. However, the converter plans to purchase more cargoes if the finished product demand gets better in the days to come. While for prices, the converter believes that import PE prices will start to move down in July or August as believed that the current level has reached its peak, as stated to SSESSMENTS.COM.
