Saudi maker announces November PE shipment to Asia

It is reported that a major Saudi Arabia producer has opened fresh PE offers for November shipment to the Asia market after skipping the previous month due to production issues.

The producer’s latest price list is shown in the following table:  

Apparently, the supply is yet to normalize and in a formal email to some of the customers in Vietnam, the producer informed that it is unable to offer November shipment, as the company has to cover the backlogs from previous months.

Meanwhile, a distributor to the Indonesia market reported that the allocation for November shipment to the country has been reduced by 50% compared to normal, which would support the supplier to hold a firm stance on the prices. 

“However, in order to achieve deals, we do expect the supplier to offer at least $20/ton discount from the initial price list. Demand is weak and these cargoes might only arrive in January, which is too close to the Lunar New Year festival,” a Vietnamese buyer said.