Thai producer reduced PE price to Vietnam

Vietnamese players reported receiving new PE offer from a major Thai producer with $25/t lower than last week at $1110/t for HDPE yarn, CIF Vietnam, LC AS term. Players blamed the sharp reduction in the ethylene costs and plunging energy market for this reduction.

A buyer received the new offer said, “We are a bit concern about the recent development in the upstream market, hence we would like to hold back our purchases till we have clearer market direction. Chinese New Year is around the corner, but demand in local market is still very weak.”

Very few suppliers have actually given new offer this morning.      

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