Major Middle East maker announced new PE prices to Vietnam

According to market sources, a major Saudi Arabia producer has announced new PE prices for May delivery to Vietnam with $30/t hike on LLDPE film cargoes to reach $1250-1260/t CIF Vietnam, LC AS term. The producer meanwhile reduced HDPE film offers by $10/t from last month to $1210/t with the same term.

A market source received the new offers said, “We think it is very difficult for buyers to accept this prices at the current market condition. LLDPE supply is not sufficient yet we expect at least $20/t discount on deals given the availability of re-export cargoes at much competitive shipping term.”