Saudi's LLDPE film surged in India, hold firm in Vietnam

According to market sources, a major Saudi Arabia producer has lifted LLDPE film prices to India by $90/ton compared to last month, reaching $1280-1290/ton CIF India, LC AS term. Buyers in the country are amused with such large and sudden price hike, which the supplier blamed lack of availability to be the main driver.

A buyer in the country commented, “Market essentially see little improvement from the recently cash crisis and we are not interested in such high offers even with some discount given.”

Meanwhile, in Vietnam, the supplier adjusted LLDPE film offers up $10/ton from pre-holiday period, reaching $1200/ton CIF Vietnam, LC AS term. It appears that the supplier has no intention to enter any price negotiation at the moment with a buyer commented, “We think market is returning to this level, however it is too high to accept purchases considering weak LLDPE film prices in local market at the moment. We are still having comfortable cargoes on hand and we would hold back our cargoes hoping for better margins in the coming days.”