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A major Thailand producer has announced fresh weekly offers for HDPE to Vietnam with $10/ton reduction from last week to reach $1205/ton for film, $1210/ton for blow molding and $1220/ton for yarn grade, all based on CIF Vietnam, LC AS term.

Source close to the company informed that initial respond from buyer side is rather disappointed and that they are collecting bids at the moment before taking the next step. The source added, “Competition is getting intense since other Southeast Asian producers have already offered below the $1200/ton threshold. A continued falling upstream cost is adding further pressure on the market. We have yet to decide on the next measure to smoothen sales.”