Saudi maker steps back on PE offers to Vietnam, demand see little changes

Following a stiff resistance on April shipment offers to Vietnam, a major Saudi Arabia producer has stepped back on PE prices by $10/ton from the initial price list, sending the latest offers to $1050/ton for LLDPE film and $1070/ton for HDPE blow moulding, all based on CIF Vietnam, LC AS.

The maker decided to maintain a firm stance on homo-PP cargoes at $1140/ton while there are no repeat offers for HDPE film.

The minor adjustment does not seem enough to stimulate the sluggish demand in the country, where buyers are very price sensitive amid ample availability of USA LLDPE cargoes in the local ground. 

“The best bid we received for LLDPE film is at $1030/ton. Until this moment, we have not been able to conclude any deal. Customers are not responding to the external factors such as surging energy cost because end product demand is too weak,” a distributor commented.