Re-export Iranian LLDPE film breached below $1200 threshold in Vietnam

Vietnamese players reported receiving offers for re-export Iranian LLDPE film from China this week at below $1200/t threshold, arousing concern amongst buyers regarding the current state of demand in the nearby China market.

A buyer received offers for these cargoes at $1165/ton CIF Vietnam said, “We think buyers might not be so interested in this parcel due to the technical specification. Yet, this might act as a psychological effect on the market. Demand is weakening now and we are not very positive about the near term prospect.”

Another trader in Ningbo offered similar cargoes to Vietnam at $1150/t CFR term said, “The end of the peak agricultural film season in China has left LLDPE film and LDPE film sector in dull condition. We are looking for re-export destination and willing to talk to serious buyers.”

Import LLDPE film to Vietnam is currently reported at $1150-1240/ton, CIF Vietnam LC AS term.