Saudi major lifted homo-PP offers to Vietnam

It is reported on the first trading day of the week that a major Saudi Arabia producer has announced fresh homo-PP offers to Vietnam with $10/ton increased week on week. Latest price list stands at $1250/ton CIF Vietnam, LC AS term. 

Strong purchasing activities in the previous week play an important role supporting the upward price adjustment, however, buyers are showing less interest while mostly placing bids at the previous levels.

“We have purchased some quantity in the previous week to cover late May production. Import market is firming up, however, local ground remains very sluggish. While placing out bids, we also discuss with local traders to obtain some additional discounts before procuring more quantity,” a woven bag converter said.