Saudi's LLDPE film concluded below $1200/ton mark in Vietnam

After announced PE offers for October delivery at rollover from last month, it is reported that a major Saudi Arabia producer has committed up to $40/ton discount on the LLDPE film cargoes, to conclude at $‎1180-1190/ton CIF Vietnam, LC AS term. This is the first time the producer conclude their LLDPE film parcels at below the $1200/ton marks in nearly three months. 

A buyer purchased some quantity at $1180/ton commented, "This could set the benchmarks for the market this months and we believed that other suppliers would offer at similar levels. Local demand is very weak despite supply is still not comfortable, which encourages domestic traders to give larger than usual discounts to smoothen sales."

Another buyers added, "We decided to skip purchases this month as we are not confident about the near term outlook. We are selling at loses in local ground at the moment."

Import LLDPE film to Vietnam is now reported at $‎1180-1270/ton, CIF, LC AS term.