Major Saudi producer cut PE prices to Vietnam

A major Saudi Arabia producer has announced June shipment PE cargoes to Vietnam with up to three digits reduction in prices compared to last month, in line with diminishing demand in the country. Indeed, the producer adjusted LLDPE film offer down $100-110/ton to reach $1140-1150/ton and HDPE film decreased $90/ton to $1120/ton, all based on CIF Vietnam, LC AS term.

A trader said, “We are placing bid for another $20/ton discount from initial offers at now waiting for the supplier’s feedback. Southern Vietnam is entering monsoon season, hence we expect demand to fall further in the coming days.”