Another Saudi major hike September PP, PE offers to Vietnam, Indonesia

It is reported that a Saudi Arabia producer has announced fresh September shipment offers for both PP and PE to Vietnam and Indonesia with relatively large increment from last month after a brief delay.

The maker’s latest offers to Vietnam indicated $50-60/ton increased for HDPE, LLDPE film and PP block copolymer, while homo-PP and BOPP witness $70/ton hike month on month.

At the meantime, the producer lifted HDPE, LLDPE film and homo-PP offers to Indonesia by $60-70/ton and PP block copolymer by $90/ton. The price list to both markets stand at $1180/ton for HDPE film, $1190/ton for LLDPE film, $1150/ton for homo-PP and $1170-1190/ton for PP block copolymers, all based on CIF, LC AS term.

A source close to the producer informed, “Demand in China is rather healthy while ethylene costs continue to escalate, supporting our price decision. Southeast Asian buyers might resist the latest prices, however we think market is set to persist on the firming trend in the coming month.”