Malaysian major lifted February PE offers to Vietnam

Vietnamese players reported to have received fresh PE offers from a major Malaysian producer for February shipment with increases of $20/ton for LDPE film and $50/ton for HDPE film. Latest price list stand at $1310/ton and $1350/ton respectively, all based on CIF Vietnam, LC AS term.

There is a mixed respond towards the new offers, however, limited availability encourages the supplier to hold firm stance on the cargoes, especially for HDPE film. A buyer commented, “We might reduce the purchased quantity for LDPE film this month as market is not very bright.”

At the meantime, sources are not expecting any large discount on HDPE film cargoes citing the fact that Thailand cargoes have been concluded at similar levels. “Supply for HDPE film is very short while upstream market remains relatively strong. We might not be able to concede to any major discount,” a distributor said.