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Traders: Saudi producer cuts PE prices to Vietnam

by ChemOrbis Editorial Team -
  • 15/12/2014 (17:02)
According to traders in Vietnam, a Saudi Arabian producer has implemented significant reductions on their PE prices compared to last month.

“We received new PE prices from our regular Saudi Arabian supplier with significant decreases from last month at $1120-1130/ton for LLDPE and at $1150/ton for HDPE CIF Vietnam, cash. We are planning to purchase some material from them in order to balance our previous purchase, which we made at a much higher price,” a trader stated.

A second trader, meanwhile, reported that they purchased some LLDPE film cargoes from the same source at $1080/ton CIF, cash. The trader stated that their supplier initially offered LLDPE film at $1120-1130/ton and HDPE film at $1150/ton CIF, cash. “Our Saudi supplier has implemented sizeable reductions on their PE prices, stating that they are offering only a limited amount of cargoes in order to protect buyers who made purchases at higher levels last month,” he said.

The supplier’s new offers represent significant decreases of around $300-320/ton when compared to their most recently reported prices at the end of last month.
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