A Vietnamese converter informed SSESSMENTS.COM that the leading Saudi polyolefins producer has implemented a hefty adjustment on PE prices. As compared to last month’s level, the producer trimmed the offers for HDPE Film and LLDPE Film C4 by $50/ton and $60/ton, respectively. The biggest downward price adjustment captured on LDPE Film, with a reduction of between $80-90/ton as compared to the same period. The converter decided to purchase LDPE Film for a small volume, with deals closed at the initial offer level.
Regarding the sales for the converter’s end product, SSESSMENTS.COM was told that demand is still flowing in from customers in America and Europe. But indeed, demand has started to slow down due to the spike of confirmed Coronavirus cases globally. As a result, the converter is forced to cut the operating rate to 80-85% from the normal capacity.
