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NewsSSESSMENTS: Vietnamese Trader Shares Concluded Deals For Import Saudi PE Cargoes, Feedstock Price Movements To Cap Upward Momentum


A Vietnamese trader shares with SSESSMENTS.COM on the level of the done deal for import Saudi PE offers and pricing outlook considering the changes in ethylene prices. This week, import PE offers from the trader are mostly stable from last week, in line with the stagnant PE market. Offers for South Korean HDPE Film stood at $900/ton. The trader managed to close deals for Saudi HDPE Film at $10/ton lower than initial offers at $920/ton. While deals for LLDPE FIlm C4 from the same origin concluded at $20/ton lower than initial offers at $910/ton. These cargoes will be shipped from Singapore. Market talks have it that import PE offers of Indian origin are available below $900/ton threshold. According to sources, offers for LLDPE Film C4 of Indian origin are available at $850/ton while HDPE Yarn at $860/ton, all on LC at sight, CIF Vietnam main port basis. 

According to the trader, current import PE offers in Vietnam have reached its peak; hence, the room for PE prices to increase further is limited. Moreover, as ethylene prices dropped around $30/ton for Northeast Asia and around $10/ton for Southeast Asia on the morning of July 7, the trader opined that it would be unlikely for PE prices to move higher, as stated to SSESSMENTS.COM.

Import PE offers on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
SaudiHDPE FilmSold*920
South KoreanHDPE FilmOffer Given900
USAHDPE FilmOffer Given930
SaudiLLDPE Film C4Sold*910
Description: *Shipment from Singapore

Tags: Asia Pacific,English,News,PE,SEA,Saudi Arabia,Vietnam

Published on July 7, 2020 4:57 PM (GMT+8)
Last Updated on July 7, 2020 4:57 PM (GMT+8)