- A Vietnamese trader contacted by SSESSMENTS.COM informed that fresh import PP Homo Raffia offers of Saudi origin surfaced at $930/ton on LC at sight, CIF Vietnam main port basis. The current level is stable as compared to last week’s level. In the local market, the trader is offering localized Saudi PP Homo Raffia cargoes between VND25,500,000-25,800,000/ton ($1,090-1,103/ton) on cash, FD Vietnam basis and including 10% VAT. This level is between VND200,000-500,000/ton ($9-21/ton) lower than the trader’s sell idea last week. However, buyers are still showing a stiff resistance towards the localized cargoes.
- Whereas in Thailand, a converter and also a trader commented that local PP Homo Raffia offers are 10% higher than the offers in the international market. At the moment, local PP Homo Raffia offers reach THB36,000/ton ($1,163/ton) on cash, FD Thailand basis and excluding 7% VAT. In terms of demand for PP resins, it is still considered slow since most converters in the country have secured enough materials and are in a wait-and-see position. For the end-products, demand from the local and export market has shown some improvements, although demand from the export market is not strong yet. In the days to come, the source opined that demand is expected to slow down again as buyers have done the replenishment activities, as stated to SSESSMENTS.COM.
