As contacted by SSESSMENTS.COM, a Middle Eastern producer unveiled its sales for PE and PP cargoes to Southeast Asia and Australia market last week. The producer saw mixed sales performance in the previous week for two of its polymers products, PE and PP. According to the producer, Southeast Asia’s PE market remained firm last week, but contrastingly, overall demand for PP resins in the region was rather flat last week with limited spot trades taking place particularly for PP Homo Raffia. However, for PP Copolymer grades, most customers in the region were more willing to accept a high price level amid limited offers. As for PP Random Copolymer, the producer managed to finalize the deal for the cargoes at $1,040/ton on LC at sight, CIF Southeast Asia Main Port basis. The producer further added that the company was unwilling to accept bids below $1,040/ton-level as it was considered too low. For pricing outlook, the producer believes that the possibility of Middle Eastern PP Homo Raffia prices in Southeast Asia to move lower remain thin in the days to come on the back of supply shortage, even though offers from certain origins were revised down.
To the Australian market, the producer gained satisfactory sales for certain grades last week. As compared to the previous month, demand for HDPE Pipe has shown signs of a rebound. In the previous week, the producer received overwhelming orders for this grade and managed to sell out all allocation due to limited supply in the domestic market. However, the demand for HDPE Blow Moulding was still better than HDPE Pipe. SSESSMENTS.COM was informed that demand for HDPE Pipe is predicted to remain dull since the construction and property sector would remain slow due to lack of workforce.
