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According to market sources, a major Saudi Arabia producer has announced new homo-PP prices to Vietnam with $20-25/ton hike from last month, reaching $1070/ton CIF, LC AS term. While market is well aware of the supply condition and the general firming trend, many are placing bid lower considering the long shipment time.

A market source commented, “The cargoes would only arrive by April in which too high risk involved. We bid for $20/ton lower to make small purchases and currently waiting for our supplier to respond.”