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It is reported that another Saudi Arabia producer has announced October shipment offers for both PP and PE to Vietnam with large increases. The supplier reportedly introduced $100/ton hike on PP block copolymer cargoes from last month, reaching $1240/ton CIF Vietnam, LC AS term, which is out of buyers’ expectation.

At the meantime, HDPE cargoes jumped $70/ton to reach $1230/ton for film and $1190/ton for blow molding grade. LLDPE film and homo-PP are offered at $50/ton higher, at $1220/ton and $1180/ton respectively. All based on CIF Vietnam, LC AS term.

Supply from the producer is not very comfortable given the upcoming shutdown in October. However, buyers are taking very firm position in the market, hoping to achieve discounts. “We are asking for $20/ton discount from the price list and currently waiting for feedback. Prices above the $1200/ton mark are too high to accept,” a buyer commented.