Another Saudi maker lifted PP and PE offers to SEA

A major Saudi Arabia producer reportedly announced June shipment offers for PP and PE to Southeast Asia with increases between $20-40/ton. The hike is in line with the current market levels, however, demand across the region is now softer as buyers started showing strong resistance towards the latest offers.

The producer’s price list is shown in the following table: 

The producers previously claimed healthy sales result in other markets, including India, Pakistan and South Africa while adding, “We are not expecting any immediate deal at the latest price levels, but rather collecting bids for later decision. In the meantime, China market is rather bullish and we think Southeast Asia market shall slowly pick up,” a source close to the producer said.