Saudi major announced PE offers to Vietnam

A major Saudi Arabia producer has announced fresh prices for November delivery PE cargoes to Vietnam at stable to softer levels compared to last month. The maker reportedly cut LLDPE film offers by $20/ton to reach $‎1200-1210/ton and rollover HDPE film offer at $1130/ton, all based on CIF Vietnam, LC AS term.

A buyer commented, “We think further discount is necessary in order to conclude deals. We have placed bid at $20/ton lower than initial prices and currently waiting for the supplier’s feedback. Local market is picking up, yet at very slow pace. We find it difficult to implement large hike on domestic prices, hence squeezing our margins.”