Another Saudi producer maintain May PP, PE offers stable to firm to Vietnam

Vietnamese players on the first trading day after the long weekend holiday reported receiving fresh PP and PE offers from a major Saudi Arabia producer for May shipment at the stable to firmer levels compared to last month.

The producer’s latest price list and month on month changes are shown in the following table.

Customers have not shown any strong respond toward the new offers though many become reluctant with PE cargoes after the recent fall in the upstream ethylene costs. “We have not received any good bids until now. Most buyers are still on the wait and see position, making it a little bearish for the near-term outlook,” a distributor said.