Another Saudi major slashed April delivery PE offers to Vietnam

Vietnamese players reported to have received fresh PE offers from another major Saudi Arabia producer with large reduction from previous month. The maker reportedly slashed HDPE film prices by $50/ton to reach $1200/ton CIF Vietnam, LC AS term while LLDPE film witness $40/ton reduction to $1220-1230/ton with the same term.

Buyers who have purchased cargoes from another Saudi maker in the previous trading sessions at $1160-1170/ton are placing bids at similar levels for the latest offers with a market source commented, “Though our supplier continue to claim limited availability, we think there must be additional discounts in order to attract buying interest. Domestic market is weak at the moment and prices are more competitive than most import offers. Traders therefore might find it difficult to make replenishment.”