As informed to SSESSMENTS.COM, a Malaysian polyolefins producer has sold out July shipment allocation to China and Southeast Asia market (except Indonesia). As reported, the producer managed to close deals for HDPE Film at $850/ton to China market. To Southeast Asia, the producer started offering early last week to the Philippines and Vietnam, with deals concluded at $830/ton as customers that mostly based in the Philippines and Vietnam could not accept prices at $850/ton. For PP, the producer sold PP Homo Raffia to both China and Southeast Asia at the same level at $920-930/ton. As for PP Block Copolymer, the producer initially found difficulties in selling cargoes at $980-990/ton to Southeast Asia, but eventually managed to achieve deals at such a level as the availability of materials is limited and most suppliers offer around that level. All transactions on LC at sight, CIF Main Port basis. Speaking of the allocation, the producer revealed that they have more volume for PP Block Copolymer for this July shipment while PP Homo Raffia is very limited.
For the Southeast Asia market, the producer has yet to announce July shipment offers to Indonesia, most likely will come out by June 18. Particularly for PP Homo Raffia, offers would be around $950/ton-level, or around $100/ton higher than June shipment offers. The producer opined to SSESSMENTS.COM that PE and PP price will remain firm in the days to come as propped up by firmer crude oil and feedstock prices.
