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Morning Briefing - 22 Apr. 2025At least two leading Saudi producers have announced their May PE shipment offers to Southeast Asia with sharp reductions, marking a more aggressive price correction than initially anticipated. |
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CommoPlast
Morning Briefing
22 April 2025
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Saudi major slashed May PE offers in SEA
At least two leading Saudi producers have announced their May PE shipment offers to Southeast Asia with sharp reductions, marking a more aggressive price correction than initially anticipated.
One major supplier slashed LLDPE film offers to Vietnam by as much as $90/ton compared to April levels, while another cut its price list by $60/ton—double the market's earlier expectation of a $20–30/ton drop.
While a price drop was largely expected, the scale of the cuts caught many regional players off guard. Market sentiment remains cautious amid mounting concerns over the US-China trade tensions and the growing influx of re-export cargoes, both of which are expected to exert continued pressure on the regional PE market.
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Chinese homo-PP export offers extended declines
Despite weeks of concerted efforts to keep export homo-PP offers above the $900/ton mark, several major Chinese suppliers have conceded to further reductions in a bid to stimulate lacklustre overseas demand.
The latest offers reflect a modest week-on-week decrease of $7/ton, yet this marginal drop has pushed prices to their lowest levels since late June 2023.
International buyers, well aware of the cost pressures weighing on Chinese PP producers, remain cautious. Many are closely tracking potential destocking activities ahead of the extended Labour Day holiday, in hopes of leveraging the situation for additional discounts.
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