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According to market sources, a major Middle Eastern producer have reduced their LDPE film offers to Vietnam this week by $60/ton after bumped into stiff market resistance in the previous offering. Latest offers stand at $1320/ton, CIF Vietnam, LC AS term.

A buyer in the country reported, “We think LDPE film might continue to move lower in the near term given softer demand condition across the Asia region. Thailand’s cargoes are still available at below $1300/ton threshold and we are seeing irregular origin emerge in the market, which could indicate the weakness in other key import destinations.”