A Vietnamese trader shared with SSESSMENTS.COM on the latest adjustment on import PE, PP offers from several origins and current demand conditions after the lockdown lifted. This week, HDPE Film from the leading Saudi polyolefins producer increased by $60/ton, while offers for LLDPE Film C4 remain unchanged. According to the trader, the producer maintains firm offers for PE cargoes as the allocation is limited. Likewise, another Saudi PE producer adjusted up HDPE Film offers by $20/ton on the back of limited allocation at the producer’s end. While offers for LLDPE Film C4 remain stable. Meanwhile, the leading Indian petrochemical producer maintains stable offers for LLDPE Film C4 and adjusted up HDPE Yarn offers by $20/ton. All changes are on a weekly comparison. For US cargoes, offers for HDPE Film and LLDPE Film C4 are available at $710/ton and $690/ton, respectively on LC at sight, CIF Ho Chi Minh Port. However, these offers were deemed too high by the trader.
As for PP, Chinese and South Korean PP Homo Raffia are being offered at the same level at $820/ton on LC at sight, CIF Ho Chi Minh Port. However, the trader opined that done deals might be concluded at $10/ton lower for big volume purchases. PE and PP demand in the country is better compared to last week after the Vietnamese government decided to lift lockdown in the country. As SSESSMENTS.COM noted, Vietnam ended its social distancing measures on Wednesday, April 22, except in some districts of Hanoi, citing no provinces in the country are at high risk for spreading infection after reporting no new Coronavirus cases for seven days in a row. “Buyers are more willing to make procurements after the lockdown is lifted, as such, we expect PE and PP prices will slightly increase in the near term,” the trader said.
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