A Vietnamese trader voiced out to SSESSMENTS.COM that foreign sellers might adjust their upcoming PE, PP offers in order to meet market expectations and demand condition. This week, import offers for HDPE Film and LLDPE Film C4 of Saudi origin stood at $750/ton and the cargoes are already available in Singapore Port. Meanwhile, HDPE Film of South Korea and US origins are currently at $800/ton and $720/ton, respectively. All offers are on LC at sight, CIF Ho Chi Minh Port. As for Malaysian cargoes, June shipment offers moved higher by $50/ton for LDPE Film and by $30/ton for PP Homopolymer grades. Speaking of PP, the trader also received offers from the leading Indian petrochemical producer for PP Homo Raffia at $30/ton higher. All price changes are on a weekly comparison.
At the moment, the trader informed that the domestic market is quite muted; there are only a few deals concluded and inquiries received so far. Particularly for the PE market, the trader stated to SSESSMENTS.COM that most buyers are currently adopting a wait-and-see stance while waiting for lower prices. However, the trader believes that demand for PE is expected to improve in the upcoming weeks because the major suppliers will likely adjust down their offers to meet market expectations. While for PP, the trader mentioned that the room for an increment is rather small considering the weak demand.
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