Saudi major slashes homo-PP offers to Vietnam

Vietnamese buyers reported to have received fresh homo-PP offers from a major Saudi Arabia producer today with $20/ton reduction from initial price in the previous week, reaching $1130/ton CIF Vietnam, LC AS term. Despite the price cut, buying interest in Vietnam remains low in the presence of more competitive re-export cargoes.

A trader commented, “The supplier might need to concede to larger than usual discount in order to conclude deal. We have no plan to make fresh replenishment at the moment as we are having comfortable supply on hand.”