Saudi major announced September PP, PE offers to Asia

A major Saudi Arabia producer announced fresh offers for PP and PE to major Asia market at the stable to firmer level, which is in line with the initial plan. Following table detailed out the price list and month-on-month changes to Vietnam, Indonesia and China market. 

Southeast Asian buyers are not showing strong acceptance toward the latest offers and many are placing bids at $1150/ton for LLDPE film and $1300/ton for HDPE film, CIF, LC AS term.

“The hikes are too drastic. We are placing bids at the same levels as a major Thailand producer sold earlier this week. In the meantime, we are waiting for other Middle Eastern suppliers to announce new offers,” a Vietnamese buyer commented.

A source close to the producer informed about the lack of inventories pressure, “Though the repercussion of the heavy influx of USA cargoes is still haunting the market. We might consider a small discount on deal.”