Import PE offers on LC at sight, CIF Vietnam Main Port basis
A Vietnamese converter delays procurement activity as waiting for May shipment offers from the Middle Eastern producers, SSESSMENTS.COM was told. In comparison to a week earlier, the offers for HDPE Film and LDPE Film from a Malaysian producer increased by $30/ton and $50/ton respectively. The upward adjustments were made on Monday following the uptrend in China market as well as to test the market reaction. The converter stated that such a level is too high and decided not to proceed with procurement. Further added, the converter prefers to wait for May shipment offers from the Middle Eastern producers, unless there is a supplier willing to sell HDPE Film at below $700/ton-level.
On Monday, SSESSMENTS.COM was told that the offers for LLDPE Film C6 from United Arab Emirates producer stood at $780-790/ton. However, the offers dropped to $740-760/ton on Wednesday. All offers on LC at sight, CIF Vietnam Main Port basis. Despite the adjustment, the converter decided not to make purchases and prefer to wait for May shipment offers, which are expected to come out by next week or the final week of the month.
“We do not want to speculate prices for May shipment, as we need to monitor the movement in China market closely. Anything happened before the end of the month will affect the pricing from the Middle Eastern producers,” the converter stated to SSESSMENTS.COM. For the demand, sales from the converter’s end remain satisfactory as orders from Europe and Japan remain steady so far.
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WeeklySSESSMENTS: Vietnam PE Prices W/C April 6
Tags: Asia Pacific,English,Middle East,News,PE,SEA,Vietnam
Published on April 16, 2020 7:28 PM (GMT+8)Last Updated on April 16, 2020 7:29 PM (GMT+8)
