Saudi maker opens April PE offers to the Southeast Asia market
Saudi maker opens April PE offers to the Southeast Asia market
HD Film LL C4 Film
Regional buyers reported having received fresh PE offers from a major Saudi Arabia producer for April shipment with a $20-30/ton reduction from the previous month. The latest offers and changes are shown in the following table:
Grade |
Price List on 24 Mar. 2020 |
Changes |
Term |
Combined and reported by CommoPlast |
|||
HDPE film |
$800 |
-$30 |
CIF Indonesia |
LLDPE film |
$810-820 |
-$30 |
CIF Indonesia |
|
|||
HDPE film |
$820 |
-$20 |
CIF Vietnam |
LLDPE film |
$820-830 |
-$30 |
CIF Vietnam |
Vietnamese buyers started to place bids for the cargoes in the range of $780-790/ton citing the rapid decline in the nearby Chinese market and the bearish near-term outlook. “The market fundamental is very weak; many manufacturers are facing lower export orders as a result of the Covid-19 outbreak in the USA and Europe. We are looking at the prices below the $800/ton mark,” a buyer commented.
In Indonesia, despite the fact that importers are set to receive the renewed BMDTP in April, demand remains sluggish due to the steep depreciation of the Rupiah against the US dollar.