A trader in Vietnam commented to SSESSMENTS.COM that offers for import PE and PP of various origins to Vietnam remain firm on the high levels, out of most market players’ expectation. “Most market players predicted that high offer levels would not sustain, but so far import PE and PP offers are still high. No decrements were seen yet,” the trader said.
SSESSMENTS.COM was told that this week, the trader received offers from the leading Saudi polyolefins producer at $960/ton for HDPE Film, between $1,010-1,040/ton for LDPE Film, and at $940/ton for LLDPE Film C4. The trader submitted bids at $860/ton for LLDPE Film C4, which is between $20-30/ton lower than last month’s bid levels. The trader is still waiting for responses from the producer. From another Saudi producer, the trader also received offers for LLDPE Film C4 between $920-930/ton. Although the offer levels are slightly lower, the trader is more interested in LLDPE Film C4 cargoes from the leading Saudi polyolefins producer. For the regional cargoes, HDPE Film cargoes of Thailand origin were available at $940/ton, stable on a weekly comparison. Similarly, PP Homo Raffia offers from a Saudi PP producer were unchanged compared to the same period.
For deal levels, the trader revealed to SSESSMENTS.COM that this week the trader purchased HDPE Film from the Indonesian polyolefins producer at $915/ton or $5/ton lower than the initial offer level for a small volume. For LLDPE Film C4, the trader purchased cargoes of Qatar origin at the initial offer level, at $860/ton. From the trader’s end, HDPE Film cargoes from the United Arab Emirates were sold at the low range of offer levels, at $910/ton. All on LC at sight, CIF Haiphong Port. For PP, the trader concluded deals with buyers in China for PP Homo Raffia from Indonesia at $10/ton lower than the initial offer levels. Pertaining to outlook, the trader mentioned that it is difficult to predict the market direction. However, the trader believes that polyolefins prices in the Southeast Asia market will follow the trend in China.
