Market sources reported to SSESSMENTS.COM that a Middle Eastern PE producer adjusted offers to the Southeast Asia market, but buyers placed bids at the old offer levels for HDPE Film and LLDPE Film C4 due to being unable to accept the current levels. Compared to a week ago, the producer increased offers for HDPE Film between $20-30/ton, LDPE Film between $10-20/ton and LLDPE Film C4 between $50-60/ton. The producer’s sales at the new offer levels were unsatisfactory.
Market sources commented that stiff resistance shown by buyers was also owing to slowly recovering demand for the end-products. Moreover, buyers noted that usually after applying hefty upward adjustment, suppliers would revise offers to suit buyers’ acceptance level. Market sources further commented to SSESSMENTS.COM that current offers for Middle Eastern PE cargoes seen in the market are unworkable. Buyers in the Southeast Asian countries tend to purchase regional cargoes or US cargoes already sitting at nearby ports.
