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It is reported that a major Malaysian producer has announced fresh LDPE film offers for December shipment to Vietnam with $60/ton month on month reduction, to $1280/ton CIF, LC AS term. Such reduction was much anticipated among Vietnamese buyers, who have been complaining about the sluggish trading activities condition throughout the past several weeks. However, players become surprised that deals for these cargoes are emerged with additional $30/ton discounts, totaling a drop of $90/ton from November.

A distributor informed, “Many buyers, including traders are placing orders this time. Prices are relatively competitive at the moment.” Malaysian LDPE film is regarded as an established brand in Vietnam, which usually traded at premium over other origins. A buyer purchased three containers said, “The producers might be under pressure to clear inventories ahead of the year end book closing. We think market is nearing the bottom, and hence procured additional quantity.”