Saudi producer conceded to additional price cut on LLDPE film to Vietnam

Earlier last week, a major Saudi Arabia producer announced May shipment offers for PE to Vietnam with reduction of $50/ton on LLDPE film and $30/ton on HDPE film from last month, reaching $1170/ton and $1160/ton respectively, all based on CIF Vietnam, LC AS term. Most deals have been concluded within the week with only $10/ton discount from initial prices, despite trader’s initiative to offer larger discount.

It is reported that the producer has sold out HDPE film allocation at $1160/ton CIF Vietnam term while offered another $10/ton cut on LLDPE film cargoes, bringing latest price level to $1150/ton CIF Vietnam, LC AS term.

A distributor said, “The remaining quantity for LLDPE film is not too high and we would adjust the contract for those customers whom have concluded at higher level last week. Most Vietnamese buyers are still on holidays, hence we are not expecting healthy trading activities this week.”