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Vietnamese players reported receiving an adjusted PE offers from a major Saudi Arabia producer today, with $10/ton lower than initial prices, to reach $1140/ton for HDPE film and $1200/ton for LLDPE film, based on CIF Vietnam, LC AS term. However, buyers in the country show undifferentiated respond compared to last week.

A market source received the latest offers commented, “We think demand is too weak to accept such high prices at the moment. Other Middle Eastern producers are offering LLDPE film below the $1200/ton threshold, and we decided not to make any replenishment this time.”

The supplier appears to be very determined in holding firm on their cargoes, claiming limited sales pressure due to the on-going maintenance shutdown at their plant. Besides, the center of market expectation is that demand might pick up in the near term as player prepare for Lunar New Year orders.