A Thai PE producer has started announcing offers for July-August shipment to China, SSESSMENTS.COM was told. As compared to two weeks ago, offers for HDPE Film moved higher by $40/ton while for LLDPE Film C4 edged up by $35/ton. Currently, offers for HDPE Film and LLDPE Film C4 are available at $860/ton and $835/ton respectively, on LC at sight, CIF China main port basis. As for LDPE Film, there are no offers for the moment.
The source informed SSESSMENTS.COM that the upsurge on both HDPE Film and LLDPE Film C4 cargoes emerged following the upward trend in China, as well as the stronger crude oil prices. On Wednesday (June 3), Brent rises to $40/barrel for the first time since March. Brent crude futures for August reached $40.42/barrel, while U.S. West Texas Intermediate (WTI) crude futures climbed to $37.88/barrel, both recorded the highest level since March 6. Crude oil prices have risen sharply in the past weeks amid hopes for extended production cuts and recovery from coronavirus pandemic to spur demand. Despite some positive grounds, the producer said it becomes an uphill task to conclude deals.
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