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Another Saudi Arabia producer reportedly announced May shipment offers to Southeast Asia market on the final trading day of the week. The latest prices list sees $40/ton reduction from last month for PE cargoes while PP remains stable to firmer. 

The producer’s latest offers and month on month changes are shown as follows:

Market remains relatively calm after the price announcement; however, it appears that the producer is not in rush in adjusting the offers. “China is rather bullish and we would prefer to have better feelings about the market. In the meantime, we are putting $10/ton discount on the table for serious buyers, yet, we might eliminate this scheme if demand in China continues to pick up,” a source close to the producer said.