Saudi maker lifted LLDPE and PP prices to Vietnam regardless of the soft demand

After facing much resistance in the previous week, a major Saudi Arabia producer decided to introduce $10/ton increased on LLDPE film and PP cargoes to Vietnam citing the lack of inventories pressure.

The latest price list stands a $1040/ton for LLDPE film and $1130/ton for homo-PP yarn and injection, all based on CIF, LC AS. No offers for HDPE film is available this time.

“Buyers are showing even stiffer resistance this week. The supplier has concluded a good quantity to China in the previous week, hence, having support to be firm on Southeast Asia prices,” a distributor reported.

Meanwhile, Vietnamese buyers are not very keen on LLDPE film cargoes claiming that a good quantity has been purchased previously at a more competitive price level. “Market is gaining the momentum, but demand is not catching up. We would have to see the sustainability of the trend,” a buyer added.