Saudi maker cuts LLDPE film, PP block offers three times to Vietnam

A major Saudi Arabia producer once again cuts offers for LLDPE film and PP block copolymer to Vietnam in the face of sluggish demand condition. This is the third time the maker adjusts prices since announcing March shipment offers on 1 March 2018, totalling a reduction of $50/ton on LLDPE film and $70/ton on PP block copolymer.

Buying interest remains weak in spite of the large cuts and many prefer to hold a wait and see stance with a strong expectation that prices would continue to soften in the coming days. “We decided to postpone replenishment for another two weeks. The domestic ground is very slow while there is no bright indication from nearby China market,” a buyer commented.

Latest price list from the producer stands at $1220-1230/ton for LLDPE film and $1280/ton for PP block copolymer, all based on CIF Vietnam, LC AS term.