Saudi major announced PP, PE prices to Vietnam

According to market sources, a major Saudi Arabia producer announced new PP and PE prices to Vietnam today at stable to firmer levels compared to the final prices last month.

The current offers stand at $1190/ton for LLDPE film, $1140/ton for HDPE film and blow molding and $1050/ton for homo-PP yarn and injection, all based on CIF Vietnam, LC AS term.

A distributor offered on behalf of the producer informed, “Initial market respond is not very positive as our buyers mostly carry comfortable inventories. Besides, the recent drop in upstream costs also affected market confidence. We received some inquiries for HDPE cargoes, but buyers are asking for $30/ton discounts.”

As reported earlier, Saudi Arabia’s PetroRabigh has postponed maintenance schedules at its petrochemical complex from November 2016 to Q1 2017. It is unclear on the exact reassigned date at the moment.