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According to market sources, a major Malaysian producer has announced September shipment offers for PE to Vietnam today with $50-60/ton hike from last month, reaching $1280/ton for LDPE film and $1180/ton for HDPE film, all based on CIF Vietnam, LC AS term.

Allocation is rather limited, as the producer has not achieved stable production at one of the crackers after annual turnaround, leading to lower operating rate at downstream units. Vietnamese buyers on the other hand, are considering the purchases complaining that domestic market is not catching up. A local trader added, “We are negotiating with the supplier for some discount as we are not prepared to accept such large hike yet.”