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.
