- Despite a huge decline in the futures market, a China-based trader maintained a stable offer level for local PP Homo Raffia cargoes as compared to a week earlier. For PP resins, the trader still sees enthusiasm from buyers in the spot market despite the softer futures prices by Tuesday. Since the Coronavirus outbreak began in China, there were approximately 37,000 new manufacturers stepped into the surgical face masks market due to emerging demand in the domestic and export market, which stimulate the PP demand.
- From the import market, another Chinese trader mentioned that a Vietnamese supplier has initiated a price increase of between $150-160/ton for PP Homo Raffia cargoes to the China market as compared to last week’s level. The latest offers are hovering close to $1,000/ton-level, or at $980/ton on LC at sight, CIF China Main Port basis. For the outlook, the trader voiced out that the uptrend will be short-lived as the futures prices started to soften.
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DailySSESSMENTS: SEA PP Price 13th April 2020
DailySSESSMENTS: China PP Price 13th April 2020
DailySSESSMENTS: SEA PP Price 14th April 2020
