Saudi maker steps back on August PP, PE offers to Vietnam

Following the August shipment announcement in the previous week that bumped into stiff resistance from buyer, a major Saudi Arabia producer has decided to step back on the price list with hope to smoothen the sales process.

The adjusted price list and changes are shown in the following table:

It is informed that the maker has sold out all available quantity for homo-PP cargoes at the previous price level of $1070/ton CIF Southeast Asia, LC AS term.

Meanwhile, in the latest adjustment, LLDPE film appears to be affected the most considering the recent downtrend in the nearby China market. Many Vietnamese buyers continue to insist on bids at $930-940/ton for this grade. 

A distributor said, “We are adjusting prices for customers, who made purchases at the previous prices, too. Sentiment is slow and local traders are facing tremendous difficulties in lifting local prices, hence refused to make replenishment.”