- A trader in Thailand contacted by SSESSMENTS.COM revealed that a local producer in the country decided to maintain firm offers for PP Homo Raffia due to some backlogs. Local PP Homo Raffia offers from the producer remain stable from last week, available via a trader at THB35,000-36,000/ton ($1,128-1,160/ton) on cash, FD basis and excluding 7% VAT. Despite the stable offers, buyers are still showing stiff resistance since the prices deemed too high. On the supply front, supply for PP Homo Raffia in Thailand is considered sufficient in the midst of slow demand. The trader opined that the persistence resistance from buyers would lead to promotional price from the producer in the middle of this week. Local PP prices have room to be adjusted down in the near term.
- Whereas in Vietnam, a local trader informed SSESSMENTS.COM that local PP Homo Raffia prices have increased by VND1,000,000/ton ($43/ton) as compared to last week’s level. For localized cargoes, the trader is offering PP Homo Raffia of South Korea origin at VND26,000,000/ton ($1,011/ton) on cash, FD basis and including 10% VAT. The source also notices the uptrend in PP Homo Raffia prices in the import market. However, the uptrend in the import market deemed unreasonable by the trader citing the relatively stable crude oil prices and the weak buying sentiment on the back of fears of the second wave of coronavirus outbreak.
