Asian polyethylene offers to Brazil rose by US$50-70/mt week-on-week, as per Platts.
However, customers are not likely to accept the total increase because the bids at the moment are down by US$50/mt instead of a US$30/mt reduction seen two weeks ago.
After the hike, Asian offers to Brazil were heard at US$1570/mt CFR for HDPE film, US$1600/mt CFR for LDPE film, US$1540/mt CFR for LLDPE butene and at US$1530/mt CFR for HDPE blow molding. Bids in the Brazilian market this week were heard around US$1520/mt CFR for HDPE film and at US$1550/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 US$1500/mt CFR for HDPE film, US$1480/mt CFR for LLDPE butene and at US$1490/mt CFR for LDPE film. Brazil is currently not buying from Europe because of logistics problem. Purchase from Asia or US is being preferred.
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