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Domestic traders in Vietnam are attempting to increase prices for locally held LLDPE film cargoes after major Middle Eastern producer lifted import offers. It is reported that average prices have firmed up VND200,000/ton ($9/ton) compared to earlier this week and trading activities show improvement.

A trader sold locally held Saudi Arabia LLDPE film at VND30,700,000/ton ($1250/ton without VAT) FD Vietnam, cash tem said, “Buyers started to accept higher price levels, most probably to prepare for year end orders. We hope this situation could sustain with the support from international trend.”

Another traders added, “Actual supply for LLDPE film in domestic market is still not very comfortable while we are selling all high costs cargoes at minimal margins now. Our Middle Eastern suppliers have given higher indication for the next offering, hence we think domestic market could increase further in the coming week.”

Domestic LLDPE film prices at the moment stand at VND29,900,000-30,700,000/ton ($1218-1250/ton without VAT) FD Vietnam, cash term.