- A Chinese producer quoted lower offers for local PP cargoes to the domestic market this week, taking account of market movement in the previous week. As compared to last week’s level, the producer applied a price reduction of between CNY100-125/ton ($14-18/ton) on local PP Homo Raffia cargoes. SSESSMENTS.COM was informed that the latest offers from the producer’s end are ranging between CNY8,125-8,150/ton ($1,163-1,166/ton) on cash, EXW China basis and including 13% VAT.
- From the import market, a South Korean producer has reportedly sold most of their PP allocation for August shipment to China in the previous week. However, the producer is facing difficulties in concluding deals in the market this week as buying sentiment is weakening. As stated to SSESSMENTS.COM, current August shipment offers for PP Homo Raffia from the producer’s end are available at $970/ton on LC at sight, CIF China Main Port basis, a rollover from last week’s level.
