A Vietnamese converter informed SSESSMENTS.COM that the company decided to halt procurements citing the unworkable import PE and PP prices. This week, the converter did not receive many fresh offers from foreign suppliers. July shipment offers for HDPE Film from a Saudi PE producer stand at $850-860/ton on LC at sight, CIF Vietnam Main Port basis. While July shipment offers for Qatari LLDPE Film C4 are available at $20/ton higher from last week’s level. As for PP, the converter only received South Korean PP Homo Raffia offers at $940-950/ton on the same payment and delivery terms. For another origin, PP offers from a Thai PP producer is absent, citing that the producer does not have any allocation to sell.
All import offers are deemed too high and unworkable. As such, the converter prefers to halt procurement activities and wait for July shipment offers from other suppliers, despite the healthy finished product sales on their end. Moreover, as the current prices are still too high, the converter would rather wait on the sidelines while expecting the suppliers to revise PE and PP prices in the near term, as stated to SSESSMENTS.COM.
