As contacted by SSESSMENTS.COM, a Thai PE producer revealed that the company adjusted offers for HDPE and LLDPE Film C4 to the levels of buy ideas expressed by buyers last week. Offers for both grades were adjusted down by $50/ton compared to last week to $740-750/ton on LC at sight, CIF Indonesia main port basis. However, buyers could not accept the offer levels and cited $690/ton with the same payment and delivery terms as the buy ideas for this week. The producer is unable to accept such a level. For LDPE Film, the producer decreased offers between $30-40/ton compared to the same period.
The producer told SSESSMENTS.COM that the shipment of the cargoes will be done after Eid Al-Fitr, which is celebrated on May 23. The producer also mentioned that most upstream and intermediate producers have been under pressure and sell at losses. In the near term, the producers may reduce the operating rates to avoid further losses.
