Another Saudi maker slashed PP, PE offers for August shipment to SEA

Southeast Asian players reported receiving fresh PP and PE offers from another major Saudi Arabia producer for August shipment with a larger reduction on PE cargoes. The producer’s price list is shown in the following table: 

Explaining the price decision, a source close to the producer informed that demand across Asia for PE is rather weak at the moment while aggressive Indian sellers are putting other suppliers in a tough position. 

“Some of our customers have expressed the acceptance levels for HDPE film at below $1300/ton threshold while trying to put more pressure on LLDPE film prices. We have not made any final decision and prefer to collect more bids,” the source added.