Saudi Arabia maker cuts April PE offers to Vietnam

Vietnamese buyers reported having received new PE offers for April shipment from a major Saudi Arabia producer with $40/ton reduction from last month, bringing latest prices list to $1410/ton for HDPE film and $1240-1250/ton for LLDPE film, all based on CIF Vietnam, LC AS term.

Buyers are not excited about the reductions claiming sluggish demand condition in the local ground that drags domestic prices lower over the past week. Many are planning to place bids at $50/ton lower than price list. A buyer commented, “It is the financial year for many Middle Eastern suppliers, hence we received new offers earlier than usual. This also means that buyers are having better negotiation power, especially when Chinese buyers are not having the appetite.”