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Saudi's PE concluded at large discount in VietnamSaudi's PE concluded at large discount in Vietnam |
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As reported earlier, a major Saudi Arabia producer announced April delivery PE offers to the country at stable to $10/ton higher than last month, reaching $1210-1220/ton for LLDPE film and $1190/ton for HDPE film, CIF Vietnam, LC AS term; and deals for the cargoes are reported today at larger than usual discount.
In fact, final prices for the cargoes are reported at $1170/ton for LLDPE film and $1160/ton for HDPE film with the same term. A distributor informed, “We have sold nearly 1000 tons of LLDPE film at the discounted price, mostly to converters. Local traders on the other hand, are still reluctant to replenish material.”
A PE bags converter purchased the parcels said, “Market appears to still have room for further reduction, however, we believed that the range might not be too large, therefore we purchased some quantity this week and would purchase again if more discount become available.”