Another Saudi maker lifted PP, PE prices to Vietnam

According to market sources, another Saudi Arabia producer has announced March shipment offers to Vietnam with substantial hike compared to last month. In fact, HDPE and LLDPE film prices see $50-60/ton increased while homo-PP jumped $90/ton.

Latest offers stand at $1230/ton for HDPE film, $1250/ton for LLDPE film, $1170/ton for homo-PP and $1220/ton for PP block copolymer, all based on CIF Vietnam, LC AS term.

A distributor source commented, “The new offers come at the time sentiment is weakening and might face difficulty in attracting buying attention. We plan to open new prices at $10/ton below the official price list.”

A buyer received the offer added, “These offers are no longer competitive with the presence of prompt re-export material. We expect the maker to concede to larger than usual discount in order to close deals.”

Supply from the producer is reportedly tight, as the trouble plant has just only restarted earlier this week. Allocation for April shipment is expected to be normal.