Saudi Arabia maker down-adjusted LLDPE film offers to Vietnam

A major Saudi Arabia producer reportedly down-adjusted LLDPE film and BOPP offers to Vietnam by $20/ton from last week, bringing the latest offers to $1210/ton for LLDPE film and $1180/ton for BOPP, all based on CIF Vietnam, LC AS term, latest shipment date 15 October 2017.

A distributor offered on behalf of the producer informed that these cargoes were initially scheduled for China, however, demand here slow down in recent days, forcing the maker to re-direct to Vietnam. The source added, “The quantity is not too big and we believed that with the current ethylene costs, it is unlikely that import PE could go through drastic downtrend.”

Such movement indicated the weakness in demand in the nearby China market, which might affect the general purchasing interest in Vietnam despite supply remains relatively tight.