Major Saudi maker cuts PE offers to Vietnam

Maket players in Vietnam reportedly received fresh offers from major Saudi maker with $10/ton reduction for HDPE film and $20/ton decrease for LLDPE film as compared to last month, reaching $1380/ton and $1190-1200/ton respectively, all on a CIF Vietnam, LC at sight basis.

Vietnamese buyers have given a cautious reponse as many were hoping to see deeper price cuts. A converter commented, "Other Middle Eastern HDPE film cargoes are available at $1360/ton CIF Vietnam, LC AS term and we are looking at prices below the $1350/ton threshold. Demand is not strong and with the current macro trade environment, we planned to place bids at large reduction compared to initial price list."