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SOUTHEAST ASIA 

• Saudi makers concluded September PE business at larger discount 
• Overseas PP sellers continue facing resistance 

Polypropylene (PP)

More overseas sellers started complaining about the difficulties facing in attracting deals for import homo-PP unless conceding to large discount. Regional buyers are placing bids at $1230-1240/ton for Middle Eastern yarn cargoes, which sellers are unable to comply.

“Customers have already replenished sufficient quantity in the previous down-cycle, and tend to have an upper hand in negotiation this time. We have not been able to close good deal this week,” an international trader offer Saudi homo-PP yarn at $1260/ton CIF Vietnam informed.

In Indonesia, sellers for dutiable homo-PP yarn reported receiving best bids at $1240/ton. “Import homo-PP to Indonesia has been difficult throughout the years in the presence of competitive local cargoes. Still, we are unable to accept such low bid,” a trader added.

Polyethylene (PE)

Two major Saudi Arabia makers reportedly concluded PE business for September shipment, mostly at $20-30/ton discount from the initial price list. Final prices emerged at $1130-1150/ton for LLDPE film and $1300-1320/ton for HDPE film, all based on CIF Southeast Asia, LC AS term.

“Buyers have been pressing LLDPE film prices lower, however, the actual demand is not that all bad, especially for Mi-2 grade. On the other hand, HDPE film is a bit slower as buyers are hoping to obtain deals at below the $1300/ton mark,” a trader commented.