Trader slashed Saudi's homo-PP offers to Vietnam

Earlier this week, a Saudi Arabia producer announced new homo-PP offers to Vietnam at the $1200/ton mark, claiming limited availability for such aggressive price decision. However, traders today slash offers for the same cargoes by $45/ton from the producer’s official price, to reach $1155/ton CIF Vietnam, LC AS term.

A buyer received the offer commented, “This cargo is shipped from Saudi Arabia port, instead of from bonded warehouse in Southeast Asia. However, the large price differential has also created a lot of concern among market players. We have purchased some re-export parcels from China at lower levels, hence, we are not planning to take additional quantity for deep-seas shipment.”