A Malaysian converter revealed PET cargoes offers of Chinese supplier, however, buying quantity is still in consideration. As reported to SSESSMENTS.COM, import PET Bottle cargoes of China origin are offered at $835/ton on LC at sight, CIF Malaysia main port basis. However, the supplier added that it would be possible to accept between $825-830/ton on the same payment and delivery term as local China prices already hit $810/ton-level.
Meanwhile, this week’s offers for local PET Bottles are at MYR3,600/ton on ($836/ton) cash, FD Malaysia basis. The converter is confident to get prices at MYR70-100/ton ($17-24/ton) lower than the initial offers. Even with lower prices, buying quantities is still in consideration on the back of slow demand as most buyers already ordered for festive preparation. The converter plans to reduce the quantity and wait until the end of the week before making any procurement, SSESSMENTS.COM was told.
