Lifting prices to China wasn’t easy; Saudi major stepped back to attract deals

As reported in the previous day that a major Saudi Arabia producer lifted January PP and PE offers to China by $20/ton compared to last month (see the related content). However, the lack of support from demand side has forced the maker to slash the prices significantly for some grade.

The adjusted prices and changes from the initial price list is shown in the following table: 

Market starts to respond positively toward the adjusted prices with a buyer said, “These prices are acceptable and we plan to take some quantity. Other suppliers might feel the pressure to step back on offers, too.”