A Vietnamese trader voiced out to SSESSMENTS.COM on the company’s buy idea for Middle Eastern PE cargoes and shares buyers’ responses towards current PE, PP offers. This week, offers for import PP Homo Raffia cargoes of China and Indonesia origin via the trader are available at $850/ton on LC at sight, CIF Ho Chi Minh Port. While April shipment offers for HDPE Film and LLDPE Film C4 from Middle Eastern producers surfaced at $830/ton on the same payment and delivery term. However, the trader opined that sell idea for these cargoes might be concluded at $30/ton lower than the initial offer level considering current demand and market sentiment in Vietnam.
More added, despite the low prices for import PE and PP cargoes, no deals concluded yet as the polymer market in Vietnam remains quiet over the week. Most buyers prefer to wait and monitor the market since current PE and PP prices claimed to have not bottomed out yet and still have room to decrease further. Moreover, more people are working from home and some foreign companies starting to shut offices due to the Coronavirus pandemic, SSESSMENTS.COM was told.
