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It is reported that a major Saudi Arabia producer has allocated additional quantity of PP and PE to Vietnam this week with $30/ton hike of LLDPE film and $60/ton on PP. Latest prices stand at $1250-1270/ton for LLDPE film, $1320/ton for homo-PP and at $1330/ton for PP block copolymer, all based on CIF Vietnam, LC AS term. There are no HDPE cargoes available.

Deals for LLDPE film at the new prices have been achieved while distributors are facing difficulties to convince buyers to accept PP prices. “Quantity is very small. Indeed, we only have 100 tons for each grade. Our principal suppliers might divert PP cargoes to other markets where acceptance level is better,” a distributor said.

Vietnamese buyers are gradually slowing down purchases as many might take off for holiday by the end of this week. With propylene costs face the first fall since late November 2017, market is general expecting import homo-PP has reached the cyclical peak.