A Malaysian converter informed SSESSMENTS.COM regarding a Singaporean metallocene producer’s intention to make adjustments on their offers as well as an update on cargoes of US origin. According to the source, offers for metallocene of US origin remains stable over the week, stands at $720/ton on LC at sight, CIF Malaysia main port basis. Despite there is no reduction in allocation, buyers were told to place their orders as soon as possible, otherwise, the producer will shift the allocation to other markets due to the healthy demand.
From Southeast Asian producer, import metallocene offers of Singapore origin have increased by $20/ton from last week's level, stands at $920/ton on LC at sight, CIF Malaysia main port basis. The producer even indicated to increase the offers by $50/ton in the near future, SSESSMENTS.COM was told. The producer gained the confidence to make a further upward price adjustment on the back of healthy sales, especially to Vietnam market.
Demand-wise, the converter opined that demand for plastic packaging is slow in the midst of the Coronavirus outbreak. As such, the source believes that the uptrend will not last for a long time. At the moment, converters are facing a supply disruption. Even though demand from the export market is still ongoing, manufacturers are unable to ship out the materials because of the preventive measures. The converter believes that by the second half of June, metallocene prices will go down, as stated to SSESSMENTS.COM.
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