A Vietnamese converter reveals resolute import offers for PE and PP cargoes from foreign producers to the country. Speaking to SSESSMENTS.COM, the converter informed that leading Saudi polyolefins producer offers their HDPE Film and LLDPE Film C4 at $830-870/ton and $830/ton respectively with shipments from Singapore. As quoted from the producer, their PE pricing firmly supported by positive sentiment plus solidified feedstock prices. The converter informed that their company closed the deals at initial offer levels, citing the needs for replenishing stock, yet also because Saudi Arabian cargoes are available at nearby ports compared to LLDPE Film C4 offers from a Qatari producer at $810-820/ton which will only be delivered in July.
Moving to the PP market, the converter commented on their lack of interest in the latest import offers of PP Homo Raffia. With Thai and Saudi Arabian producer offered their cargoes at $1,000/ton and $920/ton respectively, the converter argued that offers are unworkable at all. The converter pointed out to SSESSMENTS.COM that offers came from Thai producer are "ridiculously high" because the producer needs to clear backlogs as they sold a lot earlier this month. All import offers are on LC at sight, CIF Vietnam Main Port basis.
The converter reported to SSESSMENTS.COM that end-product demand is still quite steady, which supports raw material procurement as often as possible. However, the volume of procurements is affected by unpredictable market direction. The converter is unsure whether PE and PP prices will remain stable coming to July, but refuses to speculate and chooses to pay close attention to market movements.
