A Malaysian converter resubmitted bids for import Saudi LLDPE Film C4 cargoes, SSESSMENTS.COM was told. On June 23, the converter received July shipment offers for LLDPE Film C4 from a Saudi producer at $830/ton and bids were submitted at $40/ton lower than the initial offer level. Responding to the bids, the producer stated that it was too low and asked the converter whether offers at $800/ton will be acceptable. As such, the converter resubmitted bids for LLDPE Film C4 cargoes at $800/ton. However, the converter is still waiting for the final confirmation from the producer at the moment. While for Canadian mLLDPE C6, the offers are still valid at $860-870/ton. All offers are on LC at sight, CIF Malaysia Main Port basis.
As reported to SSESSMENTS.COM, there is no significant improvement observed in demand. From the domestic market, July delivery offers from a local producer are expected to be announced next Monday. Additionally, the trader opined that PE and PP offers from the producer will definitely be adjusted up.
