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A major Saudi Arabia producer has announced fresh PP and PE offers for June shipment to Vietnam today. The maker reportedly cut prices for PP but implement moderate hike on PE film cargoes. Latest price list and changes are shown in the following table:

Vietnamese buyers are puzzled with the hike in PE offers considering the recent drop in upstream ethylene costs and mediocre demand condition across the region. A buyer said, “We plan to negotiate for some discount before making replenishment. Prices might be nearing the bottom, however, we are yet to expect any rebound at the moment.” The source expressed buy idea at $1100/ton for HDPE film and $1120/ton for LLDPE film with the same term.