Major Saudi maker lifted homo-PP prices to Vietnam

According to market sources, a major Saudi Arabia producer has announced fresh homo-PP prices to Vietnam this week with $50-60/ton increased from the concluded deal levels two weeks ago, reaching $1040/ton, CIF Vietnam, LC AS term.

A buyer informed, “Market might be on the firming track, however, we think demand is not at the stage to support such rapid hike. We have checked with our customers regarding the new prices, most are not willing to accept.”

It is also reported that a distributor, who offers on behalf of the producer is currently collecting bid at $1000/ton with the same term. However, no final deal reported at the time this alert is published.