A Vietnamese trader revealed to SSESSMENTS.COM that the company adjusted localized PE offers steeply, but so far received nil inquiries from the customers. Offers for localized LDPE Film of Malaysia origin from the trader hiked by VND1,000,000/ton ($43/ton) compared to last week’s levels whereas offers for localized LDPE Film from a Saudi producer increased by VND1,200,000/ton ($51/ton). More significant adjustments were applied for Saudi origin because the producer’s allocation to the Vietnam market is limited, only around 1,000-1,500 tons per month. The trader’s sell ideas for Thai HDPE Blow Moulding also increased by VND1,000,000/ton ($43/ton) compared to last week. “We utilize the low PE availability in the market as the momentum to make up the previous losses,” the trader said.
So far, the trader received nil inquiries from customers as buyers resist the high offers considering slow end-product demand. Most converters mentioned that demand for end-product in the domestic market is not improving and could not support the uptrend in prices for PE resins. Hence, the trader opined to SSESSMENTS.COM that room for increments in PE prices next week is limited. Besides, crude oil prices are showing signs of decreases.
