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A major Saudi Arabia producer has announced fresh PP and PE offers to Vietnam and Indonesia for October shipment with increases of $40-60/ton from last month. The producer is not having comfortable allocation to export market this round given the recent shutdown at one of the PP and PE lines.

Latest offers stand at $1230/ton for HDPE film, LLDPE film and PP block copolymer, $1190/ton for homo-PP yarn and injection and at $1210/ton for BOPP, all based on CIF, LC AS term.

A source close to the producer informed, “We believed that demand in China would hold steady in the coming days as well as the post-holiday term due to the start of the traditional agricultural season. We might offer a small discount on deals, however there is no plan to sell PE cargoes below the $1200/ton mark.”