Saudi Producer Further Cuts July PE Offers to Vietnam

A major Saudi Arabian producer has announced another round of price reductions for July PE shipments to Vietnam, following substantial cuts made in its initial offer announcement in late June. The latest revision reflects continued weakness in the Vietnamese polyethylene market, where sluggish demand, growing supply availability, and intense competition among suppliers continue to pressure prices.

The producer reduced LDPE film prices by an additional $180/ton, while HDPE blow molding grades were lowered by $170/ton. LDPE coating prices saw a further $100/ton decrease. Meanwhile, HDPE film, HDPE injection, and LLDPE film grades were each reduced by $140/ton compared to the previous offer levels.

Following the revision, July offers were reported at $1,010/ton CIF Vietnam for HDPE film, HDPE blow molding, and HDPE injection grades. LLDPE film was offered at $970/ton, while LDPE film was priced at $1,120/ton. LDPE injection material was reported at $1,360/ton, all on a CIF Vietnam, cash basis.

Several grades that appeared in the earlier offer list, including LLDPE rotomolding, LLDPE injection, and mLLDPE C6, were not included in the latest price announcement.

The latest reductions highlight the increasingly challenging market conditions in Vietnam, as suppliers continue to compete aggressively for business amid weak buying interest and ample regional availability.

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