- A trader reported to SSESSMENTS.COM that the company’s offers for local PP Homo Raffia cargoes were trimmed by CNY100/ton ($14/ton) from last week’s level. The trader added that the supply condition is expected to be better onward since most of the maintenance shutdowns at local producers’ plants will be finished by the end of July. On the other hand, converters are not in a rush in making procurements amid the traditional low season for PP.
- Another local trader informed SSESSMENTS.COM that their offers for local PP Homo Raffia cargoes remain stable compared to last Friday’s level. From the import market, offers for Middle Eastern and Indian PP Homo Raffia cargoes to the China market generally decreased between $10-15/ton on the week-on-week comparison. The trader also revealed that last week, transactions for import cargoes were limited due to the downtrend in the domestic market. For the outlook, the trader opined that the market would remain quiet and trading activity will be limited amid the traditional low season. Hence, the trader will remain on a cautious stand and continue to monitor the market development.
