Malaysian converter receives re-export PE offers from China

A plastic bag manufacturer in Malaysia reported to have received offers for HDPE film for re-export purposes from a Chinese trader this week at US$1350/ton CIF Malaysia, cash, for Iranian and Middle Eastern origins as per Chemorbis. Though the sellers seem open to negotiations, the Malaysian converter is currently not planning any new purchases due to sufficient stock levels to meet demand until the end of month. As demand in China has failed to live up to sellers’ optimistic predictions for the post-holiday period and a number of distributors complain of high stock levels, Chinese traders are beginning to look for alternative outlets for their excess PE cargoes. For buyers in Southeast Asia, who are trying to negotiate some discounts from their regular suppliers, re-export offers from China give them yet another option to turn to in order to meet their immediate needs while waiting for the softening price trend they expect to emerge over the next few weeks.
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