Saudi major slashed May PE offers to Vietnam

A major Saudi Arabia producer has announced May shipment PE offers to Vietnam with $50/ton reduction from last month. Latest price list shows LLDPE film at $1190-1200/ton and HDPE film at $1360/ton, all based on CIF Vietnam, LC AS term.

Several buyers have expressed the buy ideas for these cargoes at $30-40/ton below the initial offers with a source added, “Market sentiment is better thanks to stronger upstream costs. However, we need to balance up our previous higher costs cargoes.”

“Some other Middle Eastern cargoes have concluded deals at $1140-1150/ton for LLDPE film and $1310/ton for HDPE film, and therefore, we expect to achieve similar levels for the latest offers. It appears that sellers are still amid depleting inventories ahead of the Ramadan season,” another buyer said.