Major Saudi rollover homo-PP prices in Vietnam, deals at discounts

Vietnamese buyers reported to receive new homo-PP offers from a major Saudi Arabia producer just a day after the Eid-al-Adha holidays at unchanged levels compared to last week. Latest offers stand at $1025/ton CIF Vietnam, LC AS term. Several deals have been reported at $1015/ton with the same term, a $10/ton lower than initial offer levels.

A buyer informed, “We only purchased 50 tons since we have skipped the last two week. Local demand is very weak and we see not many buyers are eager to replenish material at the moment. We are concern about the near term outlook because if demand is not improving in the coming week, market might be dragged down sooner than expected.”

Import homo-PP to Vietnam currently reported at $1015-1060/ton, CIF Vietnam, LC AS term.