- A Malaysian polyolefins producer contacted by SSESSMENTS.COM stated that the company has announced August shipment offers to the Vietnam and Philippines market two days ago. The producer is offering PP Homo Raffia to both markets at $100/ton higher than last month’s levels. The offers are available at $1,020/ton on LC at sight, CIF Main Port basis but not sure whether such a level would be acceptable or not. Citing that demand in Southeast Asia remains unimproved and tight supply has been slightly eased. In the upcoming month, the producer is unsure about the sustainability of the current price trend taking into account the expectation of better supply for PP in the Southeast Asia market. Despite that, the producer assured that there would not be a downward correction for August shipment offers in the days to come. In the domestic market, demand for PP is quite healthy and the operating rate at the downstream factories is gradually improving.
- Meanwhile, a Middle Eastern producer informed SSESSMENTS.COM that the company just managed to sell out all July PP allocation to the Southeast Asia market, and is currently discussing offers for August shipment. Before releasing August shipment offers, the producer will monitor the market first and keep an eye on other suppliers’ offers so they could give competitive offers. However, the producer hinted that August shipment offers will remain firm.
