Malaysian LDPE film offered at reduction to Vietnam

Vietnamese players reported receiving fresh offers for Malaysian LDPE film at the beginning of the week at $20/ton lower than last week to reach $1240/ton CIF Vietnam, LC AS term.

A trader received the new prices commented, “It seems market still has more room to move lower in the coming days, therefore, we prefer to wait in the side-line instead of taking position now. The monsoon season in southern Vietnam has started and this might put pressure on the market in the near term.”

Source from the producer informed, “Even after the reduction we find it difficult to attract buying interest. Buyers are simply holding tight to the wait and see stance, therefore we are not so optimistic about the near term outlook. We are now monitoring further development before making additional move.”