Market players told SSESSMENTS.COM that a Saudi producer has sold out all PE allocation for June shipment. On May 28, a converter in Vietnam informed that the company placed an order for LLDPE Film C4, but was unable to get the cargoes as the allocation is no longer available. Meanwhile, all allocation to China had been sold out since May 27.
The producer took a firm stance on offers to China and Vietnam. Market players in the two countries had to conclude deals at the initial offer levels. Bids were turned down as the producers had limited allocation. “We placed bids at $750/ton on LC at sight, CIF Vietnam main port basis or $50/ton lower than the initial offers for LLDPE Film C4. The bids were rejected,” a Vietnamese trader said to SSESSMENTS.COM. On the other hand, a Malaysian converter managed to conclude deals for the same product at $10/ton lower than the initial offer level.
SSESSMENTS.COM was informed that on a weekly comparison, HDPE Film and LLDPE Film C4 offers from the producer to China for June shipment increased by $30/ton. Compared to May shipment, offers for LLDPE Film C4 to Malaysia and Vietnam went up by $20/ton and $70/ton, respectively.
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