Traders: Saudi producer cuts PE prices to Vietnam
“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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