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It is reported that a major Saudi Arabia producer has announced fresh PE offers to Vietnam for February shipment with $60/ton hike of HDPE and $50/ton on LLDPE film. Latest offers for the two grades stand at $1350/ton and $1240-1250/ton respectively, all based on CIF Vietnam, LC AS term.

Vietnamese buyers are not responding immediately to the new prices though there is some initial expectations that the supplier might only allow $10/ton discount from price list this time. A source added, “Supply is tight and we are considering to purchase HDPE film cargoes. Local market is firming up and we think this trend might persist in the coming week.”