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A major Saudi Arabia producer has stepped back on May shipment PE offers to Vietnam a day after announcing new prices with increases. Meanwhile, offers for PP cargoes remains largely stable due to the lack of sales pressure.

The adjusted prices are shown in the following table: 

Vietnamese buyers are yet to show any eager to make replenishment with some claimed that additional discount of another $20/ton must be given in order to entice purchasing activities. “The rapid price adjustment is scaring buyers away, whose confidence has already been affected by the constant falling ethylene costs. We prefer to adopt wait and see stance for now,” a market source said.