Saudi maker cuts November PE offers to Vietnam

It is reported that a major Saudi Arabia producer has announced fresh PE offers for November shipment to Vietnam with a reduction of $40/ton for HDPE and $20/ton for LLDPE film. 

The latest price list stands at $1260/ton for HDPE film and $1120-1130/ton for LLDPE film, all based on CIF Vietnam, LC AS.

The reduction is rather in line with market expectation considering the recent plunge in the upstream ethylene costs. “We expect the final prices would see $10-20/ton discount. We are still considering the purchase given the long shipping date,” a buyer commented while informing that the last shipping date is set on 15 January 2019.