A marketing arm of Middle Eastern PE producer contacted by SSESSMENTS.COM unveils that the producer is persistent to reject Southeast Asian buyers’ bid, despite acknowledging that there are almost no deals as of recent. On a weekly comparison, the offers for HDPE Film and LLDPE Film C4 have decreased between $40-50/ton, $50/ton for LDPE Film and $40/ton for LDPE Heavy Duty. As business remains slow amid the coronavirus outbreak, most customers are not willing to make fresh procurement. The marketing arm received a limited number of inquiries and faces great difficulties to conclude deals. For a small number of customers that show interest to buy, they submitted bids at a very low-level which is rejected by the producer as it is not acceptable at the moment.
The source further added that most of the factories in Malaysia are running at a reduced rate at the moment, following the government’s restriction movement order from March 18 to April 14. Some of the factories not classified as providing essential services or related to food, beverage, hygiene, or the medical sector have to remain shut. Even for the factories that are granted permission by the government to run at full rates are not able to produce at maximum capacity due to the lack of manpower, SSESSMENTS.COM was told.
