- A trader in Vietnam contacted by SSESSMENTS.COM revealed that local PP Homo Raffia cargoes from one of the PP producers in the country are available at VND26,000,000/ton ($1,114/ton). While localized South Korean PP Homo Raffia is being offered at VND25,000,000/ton ($1,071/ton), all on cash, FD Haiphong basis and including 10% VAT. The offers for local materials deemed too high by the trader as the current level is higher by VND500,000/ton ($21/ton) as compared to the offers from traders’ end a week ago. Considering the high prices for local materials, buyers were showing good responses as they are concerned that the producer would increase the price further. In the days to come, the source opined that local and import PP Homo Raffia prices would remain firm.
- Whereas in Indonesia, a trader revealed to SSESSMENTS.COM that the company has adjusted up the offers for local PP Homo Raffia cargoes by IDR200,000/ton ($14/ton) as compared to last week’s level on the back of limited supply on their end. At the moment, the offers stand at IDR15,000,000/ton ($1,059/ton) on cash, FD Indonesia basis and excluding 10% VAT. Deals were concluded at IDR14,800,000/ton ($1,045/ton) with the same payment and delivery term to regular customers. Further added, the trader stated that it is hard to predict market direction. Demand for PP Homo Raffia is not viable; buyers are more comfortable to procure on a hand-to-mouth basis. Buyers are not worried about the tight supply in the market and requested the delivery of materials carried out in the fourth week of June. As such, the trader has no plan to replenish the inventory, unless buyers submit more orders.
