As told to SSESSMENTS.COM, PE and PP cargoes from a Malaysian polyolefins producer were still absorbed by the pensive market. The producer revealed that allocation for August shipment for HDPE Film mostly sold to the Philippines market. Deals concluded at $950/ton on LC at sight, CIF Philippines Main Port basis, at the same level to the initial offers. However, most Philippines customers reduced their buying quantity as they had taken a bit more volume from the producer last month. The producer also managed to conclude deals for LDPE Film at $1,000/ton on LC at sight, CIF Southeast Asia Main Port basis. SSESSMENTS.COM noted that the overall response from the Southeast Asia market, especially Vietnam, was not that good towards PE while to Indonesia, the company still achieved deals with regular customers. Whereas from China, there were no inquiries received for both PE and PP cargoes this week. Only last week, deals concluded for HDPE Film cargoes to China market at $950/ton.
Speaking of PP cargoes, the producer claimed that allocation for the Southeast Asia market is almost sold out. The producer told that the company is not aggressively pushing sales in Southeast Asia as they have moved a considerable volume to China in the previous weeks. The producer added to SSESSMENTS.COM, both PE and PP market was rather quiet this week.
