A Vietnamese trader revealed to SSESSMENTS.COM that most converters in Vietnam voiced out their buy ideas for Taiwanese PE cargoes at a hundred lower than the initial offer levels. As informed, the trader is offering import Taiwanese HDPE Yarn cargoes at $1,000/ton and Taiwanese LLDPE Injection cargoes at $1,010/ton this week. To date, the trader is unable to conclude any deals since the offer levels are deemed sky-high. Amid a massive slump in demand for finished-products, most converters in the country voiced out their buy idea for both grades between $910-920/ton, or around $80-100/ton lower than the initial offer levels. All import offers are on LC at sight, CIF Vietnam Main Port basis.
However, the trader is unwilling to entertain requests for a steep discount. The trader mentioned to SSESSMENTS.COM that the company’s sell ideas for both Taiwanese HDPE Yarn and LLDPE Injection are between $970-980/ton with the same payment and delivery terms. However, the trader doubts that the offer level would achieve highly successful results in the market, with demand for end-products remains sluggish, and most converters are still saddled with high inventory levels from previous procurements. Commenting on this issue, the trader said, “We are fully aware that our selling indication is still higher than customers’ buy ideas. We remain unsure if they could accept the current high level. Considering strong resistance from buyers, we think there is a possibility for import PE prices to move lower.”
