- Vietnamese market players reported to SSESSMENTS.COM that domestic and import PP prices appear to be moving in opposite directions. In the domestic market, a converter reported receiving offers for PP Homo Raffia directly from a local producer at VND200,000/ton ($8.5/ton) lower from last week. As for localized cargoes, the converter opined that offers for 1102K PP Homo Raffia grade at VND26,500,000/ton-level ($1,138/ton) will still achieve highly successful results in the market, taking account of grade’s quality and limited supply from suppliers. Other than that, localized offers for certain origin offered at VND26,500,000/ton-level ($1,138/ton) will meet resistance from buyers as it is deemed too high. All local offers are on cash, FD basis and including 10% VAT. From the import market, one of the Vietnamese traders received import offers from a South Korean producer between $960-980/ton on LC at sight, CIF Vietnam Main Port basis, or up by $30/ton from last month. However, the trader plans to skip purchasing activity this month as prices are on the consecutive rise, preferring to clear out their stocks.
- Whereas in Indonesia, the leading polyolefins producer in the country has announced the second price list for the week commencing July 13, 2020. As stated to SSESSMENTS.COM, the producer initiated an increase of IDR80,000/ton ($5.4/ton) on local PP Homo Raffia offers as compared to the previous price list announced on Monday, July 13.
