A Vietnamese converter informed SSESSMENTS.COM that the company’s bid for Saudi LLDPE Film C4 was rejected as the supplier is firm on the deal level. This week, the converter received import LLDPE Film C4 offers of Saudi origin at $780/ton on LC at sight, CIF Vietnam Main Port basis. The converter submitted a bid for these cargoes at $10/ton lower than the initial offer level. However, the bid was rejected as the supplier being firm on the deal level. The converter opined that it might be due to the limited allocation for LLDPE Film C4 on the supplier’s end. For HDPE Film of the same origin, the converter managed to conclude deals at $750/ton on the same payment and delivery term at the end of March.
Demand-wise, finished product demand for food packaging has slightly increased as people are stocking up food during the isolation period. However, the converter opined that the increment in demand would only last for a short period. While for prices, considering the current global situation, PE prices are expected to break $700/ton-threshold despite some rebound in crude oil prices by the end of last week, as stated to SSESSMENTS.COM.
