Saudi maker finalized April PE prices to Vietnam with sharp reduction

After a week of negotiation, it is reported that a major Saudi Arabia producer has finalized April shipment prices for PE cargoes to Vietnam with $40/ton reduction from the initial price list. As a result, offers from the maker fell to $1310/ton for HDPE film and $1150/ton for LLDPE film, all based on CIF Vietnam, LC AS term.

When comparing to final prices in March, the same producer has already slashed PE prices by $120/ton for HDPE film and $70/ton for LLDPE film. Good news is that buyers started responding to the adjustment.

“With Chinese buyers regain the appetite for import LLDPE film, we think the market is nearing the cyclical bottom. And therefore, we started buying at this price. On the other hand, we might wait for HDPE film to go below the $1300/ton threshold,” a buyer said.