Saudi producer announces PP, PE offers to Vietnam

According to Vietnamese buyers, a major Saudi Arabia producer has announced April delivery offers for PP and PE to Vietnam today. The maker lifted PE prices by $10/ton from last month to reflect the supply tightness despite plunging upstream costs, reaching $1190/ton for HDPE film and $1220/ton for LLDPE film, all based on CIF Vietnam, LC AS term.

On the other hand, the producer slashed homo-PP prices by $50/ton to $1120/ton but keeping PP block copolymer offer unchanged at $1220/ton with the same term.

Initial market respond is not very positive as buyers in country were expecting some reduction. A buyer commented, “Our supplier is inviting for bids and we think LLDPE film must be below the $1200/ton threshold. We plan to wait for other Saudi major to announce new offers before making any decision.”