Malaysian PE moved higher in Vietnam

A major Malaysian producer has announced fresh PE offers to Vietnam for May shipment with $10/ton increased on LDPE film cargoes, while HDPE surged $70/ton from last month. The latest price list is reported at $1320/ton for LDPE film and $1420/ton for HDPE film, yarn and injection grades, all based on CIF Vietnam, LC AS term.

Deals for LDPE film have been materialized with $30/ton discount from initial price list at $1290/ton with the same term. A buyer commented, “We purchased only two (2) containers as the prices are too high compared to other origins. The local market is weak in spite of the firmer import offers, therefore, we prefer not take a cautious stance.” 

Respond towards the HDPE offers is rather disappointed, though the supplier might hold firm stance given the lack of sales pressure. “Upstream costs are high while HDPE supply is tight. We are talking to some regular manufacturing customers to close the deal,” a trader added.