Asian polyethylene offers to the Brazilian domestic market rose $50-70/mt week-on-week, a trader said Monday.
"The Asian offers went up, but we believe the customers are not going to accept the total increase because the bids at the moment are $50/mt down instead of $30/mt as we had two weeks ago," the source said.
After the hike, Asian offers to Brazil were heard at $1,570/mt CFR for HDPE film, $1,600/mt CFR for LDPE film, $1,540/mt CFR for LLDPE butene and at $1,530/mt CFR for HDPE blow molding.
Bids in the Brazilian market this week were heard around $1,520/mt CFR for HDPE film and at $1,550/mt CFR for LDPE film.
Demand for PE in Brazil is healthy and showing signs of improving.
"The Brazilian economy is growing and with it the polyethylene import side," the source said. "We believe this year we are going to have a high consumption during Christmas time and the end of the year festivities which is helping the polyethylene import side to grow as well gradually."
Polyethylene deal prices between Asia and Brazil were heard around $1,500/mt CFR for HDPE film, $1,480/mt CFR for LLDPE butene and at $1,490/mt CFR for LDPE film.
"We are not buying from Europe anymore because they are having problems with logistics, and the customers would prefer to purchase from Asia or US," a second Brazilian trader said. "By next week we should have the US polyethylene offers for September."
