Buyers In Bangladesh Have Shown Acceptance Towards Latest Import PE Offers
- Some deals for import LLDPE Film C4 were successfully concluded this week
- Demand for both PE resins and end-product in Bangladesh remains slow
- Offers from Middle Eastern producers are expected to remain firm up to August
Buyers in Bangladesh have shown acceptance towards the latest import PE offers to the country, market players reported to SSESSMENTS.COM. Last week, buyers considered offers for import LLDPE Film C4 from Saudi at $890/ton on LC at sight, CFR Chittagong Port as too high and refused to take the cargoes. This week, offers for the cargoes remain stable and deals could be achieved at the initial offer level. Offers for the same product from India and Taiwan stood at $860/ton and $820/ton respectively, with the same payment and delivery terms. Overall, there were not many import offers available in the Bangladesh market this week.
Demand for both PE resins and end-product in Bangladesh remains slow. Most converters maintain low production rate. Buyers are cautious as COVID-19 cases in the country keep increasing. On June 17, the country recorded 4,008 new COVID-19 cases, thus, the total of confirmed cases has increased to 98,489 cases. No supply issues arose in Bangladesh this week, SSESSMENTS.COM noted.
Pertaining to the outlook, market players contacted by SSESSMENTS.COM believe that it remains possible to see some increases in Bangladesh PE prices. The players further added that Middle Eastern producers are more likely to keep offers to the country firm in July to August because supply from the producers is expected to be limited stemming from maintenance shutdowns that are usually conducted at PE plants during this period of time.
