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Another major Saudi Arabia producer has slashed PP and PE offers to Southeast Asia for July shipment, as demand across the region remains weak despite Malaysian and Indonesian buyers returned from the Ramadan holidays.

The producer’s latest price list is shown in the following table:  

While buyers are showing positive response toward the LLDPE film cargoes, most are expecting additional reductions on HDPE and homo-PP. “This is because pressure on the homo-PP market is strong and non-dutiable cargoes from China are widely available at relatively attractive prices,” a regional buyer said. 

Sources close to the company said supply for LLDPE film this month is better, which is the base for the competitive offer levels.