Saudi major lifted September PE offers to Vietnam

It is reported that a major Saudi Arabia producer has announced fresh PE offers to Vietnam for September delivery with $30/ton increased from last month, reaching $1140/ton for HDPE film and $1150-1160/ton for LLDPE film, all based on CIF Vietnam, LC AS term.

Buyers have yet to respond to new prices, however it seems that the supplier is attempting to win back some of the previously discontinued customers, and thus market is expecting special discount to emerge. A buyer said, “We place bid at $1120/ton for the lower grade of LLDPE film and currently waiting for feedback. Ethylene surged drastically, however downstream demand is not giving sufficient support. The firming trend might loose momentum if ethylene face correction.”