More Saudi producer lifted June shipment PP, PE offers to Vietnam

Another Saudi Arabia producer has announced June shipment offers for PP and PE to Vietnam with increases, market sources reported on late Tuesday, 29 May 2018. The largest increase recorded in the latest offers is for homo-PP cargoes, which see $50/ton up from last month.

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

It is widely expected that at least $20/ton discount must be given in order to attract buying interest with a buyer source informed, “Local market is cooling down this week due to the recent plunge in the energy complex. In the meantime, we are not confident about the LLDPE film market in the near to medium term.”

A distributor source added that supply for homo-PP yarn and LLDPE film (mi 1) is very tight this month, yet lack of confidence in attracting deals. “Our customers have very quickly rejected the latest homo-PP offers and we shall monitor the next development before deciding on the final prices,” a distributor said.