A marketing arm of a Middle Eastern PE producer shared with SSESSMENTS.COM on the latest adjustment on offers to Indonesia and Malaysia market. This week, offers for Middle Eastern LDPE Film to Indonesia and Malaysia market remain unchanged from last week. While offers for HDPE Film and LLDPE Film C4 increased by $10/ton and $20/ton, respectively on the high-end level of the price range available last week. Further added, the producer is attempting to sell PE cargoes at higher prices as they almost sold out June shipment allocation due to lower quantity than normal.
Overall sentiment in Southeast Asia PE market is better than last week as supported by higher ethylene prices. However, the source believes that Southeast Asian buyers will remain in guard despite a healthy demand in the China market coupled with firm feedstock prices as the Coronavirus outbreak is still overshadowing the market, as stated to SSESSMENTS.COM.
Among all Southeast Asian countries, only Vietnam has strong demand, as such, the source plans to focus on selling to the Vietnam market. While Indonesia and Malaysia market is quiet ahead of the upcoming Eid Al-Fitr holiday. Most buyers are not actively purchasing materials and just checking current prices. Moreover, finished products demand in both countries is heavily affected by the outbreak, SSESSMENTS.COM was told.
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