Another Saudi producer cut PE offers to Vietnam

Vietnamese buyers reported to have received fresh PE offers from another Saudi Arabia producer with reduction of $30/ton on LLDPE film and $40/ton on HDPE film cargoes compared to last month. Latest offers stand at $1110-1120/ton for LLDPE film and $1090/ton for HDPE film, all based on CIF Vietnam, LC AS term.

Players in the country expected deals to be concluded at around $1080/ton since most other producers have already come to this level. A buyer said, “Anything higher than this, could attract very limited buying interest. Demand in local market is not strong while supply is rather comfortable. We are taking conservative stance for now.”