Saudi major concluded homo-PP below $1100/ton threshold in Vietnam

A major Saudi Arabia producer announced fresh homo-PP offers to Vietnam in the previous trading day at $1120/ton CIF, LC AS term and today, players reported to have purchased the cargoes at $40/ton discount to reach $1080/ton with the same term.

A distributor offered on behalf of the producer informed that they managed to sell out all the available quantity today with more inquiries coming in later. A buyer commented, “We made a purchase believing that room for further reduction is getting narrower. The lead-time for this cargo is a bit long, as shipment would only arrive in June. If more discounts become available in the coming week, we will replenish additional quantity.”