Saudi major cuts PE offers to Vietnam twice, buyers accepted latest prices

Vietnamese players reported that a major Saudi Arabia producer has down adjusted PE prices to the country for the second time since July offers were announced in the previous week, bringing latest levels to $1070/ton for both HDPE and LLDPE film, all based on CIF Vietnam, LC AS term.

Vietnamese buyers have generally accepted the discounted prices with a distributor informed, “We managed to sell out approximate 600 tons of LLDPE film at the new price levels. Buyers are still considering new purchases for HDPE film, however we think there should not be much hassle in concluding deals.”

A buyer purchased the cargoes added, “These prices matched our expectation and we decided to make some replenishment. We hope this could be the bottom prices this time.”