Market sources contacted by SSESSMENTS.COM informed about a Middle Eastern PE producer that received a cold response after making notable adjustments on offers to the Philippines market. According to the information provided by the sources, the latest offers for import LLDPE Film C4 from the Middle Eastern producer emerged with a significant increase of $70/ton as compared to early June. Similarly, the producer’s offers for import LDPE Film also surged by $40/ton as compared to the same period.
Responding to the offers, most Philippines buyers showed stiff resistance, citing that the level is too high, especially for LLDPE Film C4 cargoes. As reported by the sources to SSESSMENTS.COM, the producer is unable to conclude any deals for LLDPE Film C4 and has to allocate the cargoes to other markets to achieve better sales. Whereas for LDPE Film, it is rather difficult as well to conclude deals since the prices are already labelled as high and unworkable by buyers, sources added.
