Saudi major lifted June PE offers to Vietnam and Indonesia

It is reported that a major Saudi Arabia producer has announced June shipment offers for PE cargoes with increases of $20-30/ton to Vietnam and $30-50/ton to Indonesia. Latest price list to both markets stands at $1210-1220/ton for LLDPE film and $1390/ton for HDPE film, all based on CIF, LC AS term.

A distributor source informed that supply is very tight and to avoid any issue on the shipment, the last shipping date has been set at 15 August 2018. “We might be able to tolerate some negotiation on LLDPE film cargoes, however, there shall not be any major discount on HDPE as availability is very limited while demand in China is picking up,” the source added.

In Vietnam, import HDPE film priced above the $1350/ton threshold has not been able to grasp much buying attention. “We plan to place bids at $1170-1180/ton for LLDPE film cargoes first while waiting until next day to place bids for HDPE. Local market is a bit soft and with the government’s latest plan to lift the environmental tax on plastic bags, sales would likely to remain low in the near term,” a buyer informed.