Malaysian major cut July PE offers to Vietnam

According to Vietnamese buyers, a major Malaysian producer has announced fresh PE offers to the country today with reduction from last month. The producer reportedly cut LDPE film prices by $40-50/ton, bringing latest offers to $1240/ton CIF Vietnam, LC AS term. At the meantime, HDPE film dropped $30/ton to $1110/ton with the same term. This month, the maker also allocated some LDPE coating and HDPE yarn to Vietnam at $1380/ton and $1120/ton respectively.

Several deals for LDPE film are reported shortly after the price announcement at only $10/ton discount from initial offer, at $1230/ton CIF Vietnam term. A buyer commented, “It is likely that other origin might fall below $1200/ton threshold in the near term, however, we still purchased this cargoes due to customer requirement.”