Saudi PP inched slightly lower in Vietnam; yarn remains stronger than injection

A major Saudi Arabia producer announced fresh homo-PP offers to Vietnam at $5-10/ton lower than concluded levels in the previous week, sending prices to $1240/ton for yarn and $1225/ton for injection grade, all based on CIF, LC AS.

Deals have been materialised at an additional $10/ton discount on only injection grade while homo-PP yarn holds steady. Explaining the situation, a distributor source informed that supply for homo-PP yarn is extremely tight at the moment. “And therefore, we have to sell in a bundle in order to deplete the lengthy injection supply,” the source added.

Import homo-PP yarn to Vietnam remains in the range $1230-1270/ton CIF this week, underlining a stabilising condition at the lower end. A buyer purchased the cargoes said, “The supplier is only able to allocate two containers of homo-PP yarn to us at $1240/ton. Other suppliers are not having large quantity for this grade, too.”