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Couple of Southeast Asian producers has announced new LDPE film offers to Vietnam this week with up to $60/ton reduction amid plunging upstream costs and persistent weak buying interest across the region. Latest offers for Thailand and Malaysian LDPE film to Vietnam are reported at $1370-1390/ton CIF, LC AS term.

A buyer received Malaysian LDPE film at $1370/ton CIF Vietnam said, “We are making huge loses as our cargoes purchased in previous month at $60/ton higher are arriving. Demand in domestic ground is rather weak and we concern that market outlook would remain bearish in the near term given falling offers in China and continued softening ethylene costs.”

Another buyer received Thailand LDPE film offers at $1390/ton with the same term added, “Buying interest at this level is a bit low. There are some European cargoes offered at below the $1300/ton threshold at the moment, however we are not in rush to make fresh purchases due to comfortable stock on hand.”

Buyers in the country remain reluctant to replenish large quantity at the current prices and many prefer to wait-and-see on the side-line till market shows signs of stabilizing.