Saudi major scaled back on PE, PP hikes to Vietnam

Just couple of days after implemented price increment by $30/ton on PE and $50/ton on PP cargoes to Vietnam; a major Saudi Arabia producer has stepped back on their hike target due to stiff buyer’s resistance. Prices after adjustment stand at $1190/ton for LLDPE film, $1030/ton for homo-PP and $1070/ton for PP block copolymers, all based on CIF Vietnam, LC AS term.

A distributor offers on behalf of the maker informed, “This is the final prices out principal supplier would accept though many other buyers are still placing bid for at least $10/ton lower. We will not be able to accept the bid since our suppliers have sold to China at the same levels.”