Deep-sea cargoes put pressure on SE Asia’s PE market
An international trader offered LLDPE and HDPE film for US and Northwest European origins at quite competitive levels of $1080/ton and $1030/ton, respectively, CIF Vietnam, cash. “Despite lower levels for deep-sea cargoes, buyers sourced in small quantities as the shipment from US or Europe takes about 45 days. Among PE grades, demand for HDPE is the weakest as there is no shortage for this grade while LDPE is better due to lesser supply,” the trader said.
Demand across Southeast Asia is expected to slow further down in the near term in line with the approaching monsoon season and the month of Ramadan. Plus, spot ethylene prices in Asia decreased by more than $110/ton by the end of the last week when compared to early May levels.
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