Major Saudi maker slashed PP, PE offers to Vietnam

Vietnamese buyers reported to have received fresh PE prices from a major Saudi Arabia producer with significant decrease from previous offers last month, while PP offers with smaller price cut. The maker reportedly cut $50/ton for LLDPE C4 film to reach $1100/ton, $30/ton for HDPE film to reach $1100/ton, $40/ton for HDPE blow to reach $1060/ton. Meanwhile, the producer also implemented $10/ton reduction for homo-PP and PPBC to reach $1050/ton and $1080/ton respectively, all on a CIF Vietnam, LC at sight basis.

A trader commented, “Some of our customers are expressing their bid for LLDPE at $1080/ton level, however, our allocations for LLDPE this month are rather limited, hence we might not be able to meet this price level.”