Another Saudi Arabia producer slashes April PP, PE offers to Vietnam

Another Saudi Arabia producer joins the weakening trend across the Asia region by slashing April shipment offers to Vietnam today. The latest price list sees $80/ton reduction on HDPE film cargoes while LLDPE film down $30-40/ton. For PP, the maker cuts homo-PP prices $50/ton month on month while maintaining PP block copolymer stable to $10/ton higher.

April shipment offers stand at $1350/ton for HDPE film, $1190/ton for LLDPE film, $1240/ton for homo-PP and at $1290/ton for PP block copolymer, all based on CIF Vietnam, LC AS term.

These new offers are relatively attractive compared to other cargoes from the same origin; however, buyers are generally showing little interest. A source said, “We are expecting another $20/ton discount on deals. Upstream costs are firm, yet there is just no support from the demand side.”