SEA players receive more May PP, PE prices from Mid-East
A trader based in Vietnam reported that a Saudi Arabian supplier announced their May prices with hikes of $100/ton for HDPE, $120/ton for LLDPE and PP block copolymer and $110/ton for homo-PP. the trader received new May prices from the Saudi producer at $1440/ton for HDPE and LLDPE film, at $1400/ton for PP raffia and injection and at $1450/ton for PP block copolymer, all on a CIF SEA, cash basis. “We are only offering to the local market for now and are considering raising our prices in the days ahead,” the trader commented.
Another Vietnamese trader confirmed that they received May PE prices from the same supplier with increases of $100-120/ton when compared to April at $1440/ton CIF, cash for both HDPE and LLDPE film. He stated, “The supplier has a limited quota for May due to some feedstock-related issues at their plant. We are not receiving a good response from our customers for these levels as they find new offers to be too high. We are planning to monitor the market for a while longer before deciding on our next move.”
Meanwhile, a source from a Saudi Arabian producer reported that they have sold out their May quotas to Southeast Asian markets at their initial announcement levels of $1420/ton CIF, cash for all PE and PP grades. According to the source, their done deal levels represent hikes of $40/ton for LLDPE, HDPE, homo-PP and BOPP and $30/ton for PP block copolymer. He commented, “We have limited supplies for May as we faced some issues at our plant. We are afraid that the supply situation may continue into June.”
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