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Another Saudi Arabia producer implemented reductions on August shipment offers for PP and PE to Southeast Asia market, following the general trend across the region. The maker’s latest price list and changes are shown in the following table:

Purchasing interest amongst Southeast Asian buyer has been hampered by the strengthening UD dollars that make imports more expensive while the manufacturing season is still several weeks away. 

“We are hoping to achieve an additional $20/ton discount on deals for LLDPE and homo-PP cargoes. For HDPE, there is a chance that market would move below the $1300/ton threshold,” a regional buyer commented.

Sources close to the producer meanwhile raising a possibility that this could be the end of the down-cycle before the traditional high demand season in late quarter 3 pull the sentiment up.