Saudi maker sold out February PE allocation to Vietnam after minor discount

Earlier this week, a Saudi Arabia producer opened fresh offers for February shipment PE offers to Vietnam at $915-920/ton for LLDPE film and $860/ton for both HDPE film and blow molding grades, all based on CIF Vietnam, LC AS term. Other grades including PP and LDPE lamination are not available this time.

Following the initial reluctance among buyers here, the maker reportedly sold out the quantity with only $15-20/ton discount on LLDPE film at $900/ton while no reductions are reported on HDPE cargoes.    

It is important to note that most takers are manufacturers, who reportedly was unable to procure sufficient materials prior to the holiday. “Some of the buyers are still inquiring for additional cargoes. Supply is rather limited this round due to the upcoming major shutdown. In the meantime, the sentiment is slowing down as players are waiting for clearer direction in the nearby Chinese market.