Saudi producer implements a large hike on July PE shipmen to Southeast Asia
Saudi producer implements a large hike on July PE shipmen to Southeast Asia
It is reported that a major Saudi Arabia producer has opened fresh PE offers to the Southeast Asia market with substantial increases compared to the previous month citing the lack of supply stemming from the on-going maintenance at the plant.
The producer’s latest price list based on CIF Vietnam and Indonesia for July shipment are shown in the following table:
|
Grade |
Price List on 22 Jun. 20 |
Changes |
Term |
|
Combined and reported by CommoPlast |
|||
|
HDPE film |
$850 |
+$80 |
CIF Indonesia |
|
LLDPE film |
$850-860 |
+$80 |
CIF Indonesia |
|
|
|
|
|
|
HDPE film |
$870 |
+$90 |
CIF Vietnam |
|
LLDPE film |
$860-870 |
+$90 |
CIF Vietnam |
Regional buyers are a nit reluctant toward the latest price list citing the cloudy outlook ahead amid the continued worsening COVID-19 outbreak elsewhere that potentially slows down the global economic recovery.
“Besides, plants that are going through maintenance at the moment might restart in the coming month and would pressure the market in August. The price risk is very high; hence, we prefer to take a step back to assess the situation before placing bids,” a Vietnamese buyer added.
In Indonesia, there are reports that deals for Middle Eastern LLDPE film have been concluded at $830/ton CIF Indonesia, from which customers are taking this level as a base to place bids for other cargoes from the same origins.