Major Saudi producer cuts October PP, PE prices to Southeast Asia

It is reported that a major Saudi Arabia producer has announced fresh PP and PE offers to Southeast Asia market at mostly lower levels from last month, in line with the previous reports on the softer sell ideas.

Following table shows the offered levels to Vietnam and Indonesia and the month-on-month changes.

A source close to the producer informed that supply for HDPE film is not very comfortable due to the upcoming 30-days shutdown in December. “We are collecting bids and would only decide on the final prices next week,” the source said.

Meanwhile, Vietnamese buyers are expecting another $20/ton discount on LLDPE film parcels citing the availability of new supply at competitive levels. “For HDPE film, the acceptance level at the moment is $1250-1260/ton. We can’t go any higher,” a HDPE bag maker said.