Major Saudi maker cut LLDPE film prices to Vietnam

According to market sources, a major Saudi Arabia producer has slashed LLDPE film offers to Vietnam today by $30-40/ton compared to the official prices announcement earlier this month, touching $1190/ton CIF, LC AS term.

This comes as a surprise to many players as other suppliers are holding steady or even lifted their prices. A converter said, “We did not expect this to come since our suppliers have been claiming tight availability for some time now. We purchased a large quantity at the beginning of the month at $1230/ton and we are covered till late January.”

Another trader, who is attempting to increase the offers for the same material in local market, in line with the depreciation of the Vietnamese dong said, “We a bit concern over the producer’s decision. This could undermine our effort in up-adjusting domestic prices. We managed to conclude better number of deals this week, and at the moment we are not sure about the sustainability of this trend.”

Import LLDPE film to Vietnam currently stand at $1180-1220/ton CIF Vietnam, LC AS term.