Southeast Asian major cuts September PE prices to Vietnam

Vietnamese players reported receiving fresh PE offers for September delivery from a major Southeast Asian producer at $50/ton lower than last month amid increased supply and sluggish demand condition.

Latest price list stands at $1200/ton for LDPE film, $1260/ton for LDPE injection, $1300/ton for LDPE coating and $1150/ton for HDPE film, injection and yarn grades, all based on CIF Vietnam, LC AS term.

A market source informed, “We are really surprised with the reduction especially when ethylene costs are firming up. We guess this could be a result of persistent sluggish demand condition. We plan to negotiate with our supplier for some discount and we hope demand would improve in September.”