Firm monomer prices have supported PE and PP prices in Southeast Asia market this week. A regional trading house informed SSESSMENTS.COM that their company offers Southeast Asia origin LDPE Film cargoes at $930-940/ton to Vietnam and Thailand. While expecting customers to be delighted for the latest LDPE Film offers, the trader also wants to comment that offers at $900/ton for both HDPE Film and LLDPE Film C4 are not ideal. Trader’s sell idea remains at $850-870/ton for both cargoes as demand is not yet picking up, albeit most suppliers had sold out their allocations and not have much quantity left to sell. Speaking about the PP market, the trader pointed out that market players only test the ground right now with higher offers as quantity is limited. All import offers are on LC at sight, CIF Main Port basis.
Trader reveals to SSESSMENTS.COM that demand for PE and PP cargoes in Southeast Asia remains subdued as countries still affected by coronavirus pandemic. However, the trader foresees import PE and PP prices to remains firm the whole of June as producers have low inventory. However, trader expressing their bewilderment regarding market direction going into July.
