Saudi maker step back on June PP, PE offers in Vietnam for the second time

Following the June shipment offer announcement during late May, a major Saudi Arabia producer has rolled back on PP and PE prices to Vietnam twice given the sluggish demand condition region-wide. 

In the latest adjustment, the producer slashed prices by additional $10-30/ton as shown in the following table.   

Despite the claim on the limited quantity available, distributors continue to complain about the difficulties in attracting deals. 

“We think the adjusted offers are not attractive enough, especially for PP block copolymer cargoes. We have already received offers for this grade from another Saudi maker at below the $1100/ton threshold but decided not to proceed. Market is very weak,” a buyer commented.