Saudi major up-adjusted PP, PE offers to Vietnam, deals achieved at new prices

It is reported that a major Saudi Arabia producer has allocated additional PP and PE allocation to Vietnam this week, though prices have firmed up $10/ton for LLDPE film and homo-PP, reaching $1190/ton for both grades while HDPE film added $20/ton to $1310/ton, CIF Vietnam, LC AS term.

The producer reportedly sold out homo-PP and HDPE film cargoes with no discount almost immediately after announcing the new offers. “We are only having LLDPE film left. Demand for this grade is weaker than others and our customers only accept the previous levels,” a distributor said. The source expect to see continued firming HDPE film offers in the coming weeks, calling for a possibility of another $30/ton hike.