Two more Saudi producers lifted PP, PE prices to Vietnam

Vietnamese buyers reported to have received August shipment offers for PP and PE from two different Saudi Arabia producers today, with increases from last month. With such increment, import PE film from Middle Eastern to Vietnam is no longer below the $1100/ton threshold.

The first producer lifted offers for homo-PP and LLDPE film by $20/ton, bringing latest offers to $1080/ton and $1140/ton respectively. Meanwhile, HDPE film only up $10/ton month on month at $1120/ton, all based on CIF Vietnam, LC AS term. Initial respond from Vietnamese buyers is better than expected.

A source close to the producer said, “Customers are placing bids for LLDPE film at $1120/ton with the same term and we need to consider the deal as availability is rather limited. At the same term, the Chinese PE fever seems cool down a little.”  The producer also offers limited quantity of PP block copolymer at $1120/ton and BOPP at $1100/ton CIF Vietnam.

The second producer implement a more aggressive stance, lifting LLDPE film by $60/ton, homo-PP by $40/ton and HDPE blow moulding by $30/ton from July. Price list stood at $1080/ton for homo-PP, $1090/ton for PP block copolymer, $1140/ton for LLDPE film and at $1070/ton for HDPE blow moulding, CIF Vietnam, LC AS term.

The maker reportedly sold homo-PP at $1070/ton with positive respond from buyers observed. A distributor offered on behalf of the producer added, “We have no HDPE film this month due to a technical glitches at the plant. Our customers are active in placing bids, yet the level is too low hence we have yet to conclude any PE cargoes for now. China demand is strong, and we think this could support the sentiment in Vietnam.”