- An Indonesian trader informed SSESSMENTS.COM that offers for local and localized Vietnamese PP Homo Raffia decreased between IDR100,000-200,000/ton ($6.3-12.7/ton) compared to last week’s level. The trader has managed to sell 400 tons of these cargoes at the same level to the initial offers at IDR13,400,000-13,500,000/ton ($852-859/ton) on cash, FD Indonesia basis and excluding 10% VAT. Demand-wise, PP Homo Raffia demand is considered healthy as some converters are starting to stock up; hence, the trader has sold out all this week allocation.
- While in Vietnam, notable upward adjustment captured for import Thai PP cargoes. A local converter in Vietnam shared with SSESSMENTS.COM on receiving PP Homo Raffia offers from a Thai producer at $50-70/ton higher compared to last week. The converter purchased a small volume at the same level to the initial offers at $800-820/ton on LC at sight, CIF Vietnam Main Port basis to maintain the long term relationship with the producer. As for Indian PP Homo Raffia cargoes, the offers stood at $800/ton on the same payment and delivery term. However, the converter did not take the cargoes as the offers deemed too high.
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