Saudi major offers discounts on PP, PE cargoes to Vietnam
Saudi major offers discounts on PP, PE cargoes to Vietnam

A major Saudi Arabia producer has been refusing to change the firm position on PP and PE offers for October shipment to Vietnam throughout last week, is now conceded to a small discount with hope to entice buying interest. Latest price released indicated $10/ton reduction for PP and HDPE blow molding, while LLDPE film reduce $20/ton. There is no discount given on HDPE film cargoes.
The adjusted price list is at $1200/ton for LLDPE film, $1230/ton for HDPE film, $1180/ton for HDPE blow molding, $1170/ton for homo-PP yarn and at $1220/ton for PP block copolymer, all based on CIF Vietnam, LC AS term.
Vietnamese buyers are still reluctant to proceed with purchases claiming more competitive cargoes available in domestic spot market. “There are many low costs cargoes arriving in recent weeks, and therefore we might only replenish cargoes from local ground. Import prices are too high and too risky, especially with ethylene costs show signs of softening trend,” a buyer commented.