A Vietnamese trader revealed to SSESSMENTS.COM that the current PE and PP demand in the country is moving in contrast with prices. On a weekly comparison, the trader received import HDPE Film and LLDPE Film C4 from the leading Saudi polyolefins producer at $40/ton higher citing that the allocation from the producer’s end is limited. Likewise, offers for Indian HDPE Film increased by the same amount. While for US cargoes, offers for HDPE Film and LLDPE Film C4 moved up between $20-40/ton compared to the same period.
As for PP, this week, import PP offers are scarce. While from the trader’s end, offers for import Saudi PP Homo Injection and PP Homo Raffia are available at $60/ton higher compared to last week’s levels. Deals for PP Homo Raffia cargoes were achieved at $10-20/ton lower than the initial offers, at $880-890/ton on LC at sight, CIF Vietnam Main Port basis. The trader predicted PE and PP prices to remain stable for the rest of this week. Demand-wise, according to the trader, despite the higher PE and PP prices, demand in Vietnam is on a soft note as buyers still show resistance towards higher prices. Moreover, most of them even have high inventory on hand, SSESSMENTS.COM was told.
