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Another Saudi Arabia producer joins the weakening trend across the Asia region by slashing April shipment offers to Vietnam today. The latest price list sees $80/ton reduction on HDPE film cargoes while LLDPE film down $30-40/ton. For PP, the maker cuts homo-PP prices $50/ton month on month while maintaining PP block copolymer stable to $10/ton higher.

April shipment offers stand at $1350/ton for HDPE film, $1190/ton for LLDPE film, $1240/ton for homo-PP and at $1290/ton for PP block copolymer, all based on CIF Vietnam, LC AS term.

These new offers are relatively attractive compared to other cargoes from the same origin; however, buyers are generally showing little interest. A source said, “We are expecting another $20/ton discount on deals. Upstream costs are firm, yet there is just no support from the demand side.”