Saudi producer lifted PE offers to Vietnam

Vietnamese buyer reported to have received fresh PE offers from a major Saudi Arabia producer for August shipment with increased of $20/ton for HDPE film and $10/ton for LLDPE film. Latest offers stand at $1110/ton and $1120-1130/ton respectively, all based on CIF Vietnam, LC AS term, last day shipment 30 September 2017.

Players have expected such increment considering the purchasing tempo in the nearby China market. A buyer placed bid at $1090/ton for both LLDPE and HDPE cargoes said, “We are waiting for supplier to feedback. Local market has not caught up with the firming trend in import ground. We hope that demand would improve in quarter 4 in line with the year-end preparation.”