Saudi major lowered homo-PP offers to Vietnam

Vietnamese players reported to have received fresh weekly homo-PP offers from a major Saudi Arabia producer at $30-40/ton lower than last week, at $1150/ton CIF Vietnam, LC AS term.

A distributor offered on behalf of the producer is reportedly collecting bid for the cargo at $1130/ton with the same shipment and payment term. A buyer commented, “Market is softening due to persistent weak demand across the Asia region and falling upstream costs. Even at the price level $1130/ton CIF Vietnam; we are not confident at the moment. Therefore, we might wait until next week before deciding on fresh replenishment.”