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According to market sources, a major Saudi Arabia producer has announced January delivery offers for HDPE and LLDPE film to Vietnam at unchanged level compared to last month. Latest price list stands at $1150/ton for HDPE film and $1210-1220/ton for LLDPE film, all based on CIF Vietnam, LC AS term.

A trader commented on the new offer saying, “We think our supplier is overly optimistic about the market acceptance. Couple of other suppliers are offering prompt cargoes at well-below level, hence we think market is not going to respond positively toward such high prices.”

Meanwhile, the supplier does not appear to have any sales pressure, claiming high offers given due to lack of availability. A distributor offered on behalf of the producer informed, “We could not meet all orders this month as we are not having sufficient allocation. Market might resist, yet we prefer to hold firm stance for now.”

More producers would announce fresh offers within this week and pressure would pile up if demand remains mute.