More Southeast Asian producers adjust PE prices down to Vietnam

Players reported that three more producers in the region have stepped back on their PE prices to Vietnam today after the drastic reduction recorded in the ethylene costs late last week.

A Malaysian maker adjusted their LDPE film and HDPE film prices down by $20/t from initial offers given last week to reach $1120/t and $1110/t respectively, CIF Vietnam, LC AS term. A converter received the new price said, “We have yet to proceed with purchase as we are not confident about the market outlook in the coming week. With the sanction on Iran being lifted, we expect to see a heavier flow of Iranian cargoes to the region in the near term.”

Another Malaysian maker also reportedly adjusted their LDPE film price down $10/t compared to last week. Meanwhile, a major Thai producer open new PE offer this week with $10/t lower to reach $1115/t for HDPE film, LLDPE film and LDPE film, CIF Vietnam, LC AS term. “Despite the big reduction in ethylene costs, PE prices are coming down in a much slower pace. Domestic buyers are pushing for discounts and we think that we will stay on the sideline in the coming days to avoid further loses.”

Import PE prices to Vietnam currently stand at $1110-1115/t for HDPE film, $1115/t for LLDPE film and $1115-1125/t for LDPE film, CIF, LC AS term.

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