Saudi maker down adjusted PE offers to Vietnam

A major Saudi Arabia producer has down adjusted PE offers to Vietnam from concluded prices during late April by $30/ton, bring both LLDPE and HDPE film to $1120/ton CIF Vietnam, LC AS term. However, market players noted that for LLDPE film, there is only MI – 1 grade available this week. 

Couple of deals are reported at this level with a market source said, “We think these prices are already low enough, hence we purchased a small quantity.” Meanwhile, many other buyers are still reluctant fearing further price reduction in the near term. “We prefer to be cautious though ethylene costs remain strong. Middle Eastern suppliers might want to reduce inventories before entering the Ramadan season,” another buyer added.