Saudi major lifted PE offers to Vietnam, conservative buyers might skip purchases

A major Saudi Arabia producer has announced fresh PE offers to Vietnam with large increase of $100/ton on HDPE film while LLDPE film witness $40/ton hike. Latest price list stand at $1450/ton for HDPE film and $1280-1290/ton for LLDPE film, all based on CIF Vietnam, LC AS term.

The offers received tremendous resistance given the fact that last shipment date is on 15 May, which means buyers would only receive the cargoes somewhere in July. “We decided not to pursue the purchases despite the limited quantity available. Price risk is too high while domestic market remains sluggish,” a local trader commented.