As contacted by SSESSMENTS.COM, a Vietnamese converter revealed fresh import PE offers from the US and South Korea. As reported, the trader received import LDPE Coating offers from a South Korean producer at $20/ton higher than offer level available two weeks ago. Supply limitation was cited as a major ground pushing the producer to increase offers. Similarly, the latest offers for mLLDPE C6 from a US producer are available at $50/ton higher on a monthly comparison. The converter also received import metallocene offers from another US producer. Considering the long lead time, which is around two months, the converter is reluctant to take the cargoes.
Demand-wise, the converter said that domestic and export sales from the company’s end remain satisfactory despite the Coronavirus pandemic. The converter commented on the current price trend, saying, “We were quite surprised by the sudden and sharp increase in prices. Previously, we did not expect that the price would move higher rapidly. The market indeed continues to be unpredictable and changing rapidly.”
