As contacted by SSESSMENTS.COM, one of the US producers unveiled its sales and latest offers for mLLDPE C6 cargoes to Indonesia market. As informed, the producer gained satisfactory sales in April as strong demand in medical supplies packaging kept the market balanced during the month. However, demand has started to slow down in May as market sentiment leaned towards a bearish undertone on the back of an unprecedented drop in end-products demand. According to the producer, the company’s sales figure saw a year-on-year decline, falling between 15-20% as compared to the same period last year. Strong demand growth was mainly driven by medical equipment products, while demand for food packaging and automotive sectors was shrinking. Overall, the producer was in a sales struggle in the first half of 2020 as global downturn bites.
The producer has announced the latest mLLDPE C6 offers to Indonesia market this week. As reported, current mLLDPE C6 offers from the producer’s end are available in the market at $1,100/ton on LC at sight, CIF Indonesia Main Port basis. At the time of the publication, the producer has yet to receive any feedback from customers. The producer also confirmed that the company conducted maintenance shutdown at its LLDPE plants in May, which lead to a shortage of supply for LLDPE Film C4 and mLLDPE C6 grades. However, upon the completion of the maintenance, the producer’s plant has returned to normal operation, SSESSMENTS.COM was informed.
