A global trading house is being persistent on the current offers for import PP to Bangladesh market despite cold response, SSESSMENTS.COM was told. Compared to a week earlier, the offers for import PP Homo Raffia from a Saudi producer are captured higher by $30/ton, available at $990/ton. However, there is no deal concluded so far as no buyers are willing to purchase cargoes close to $1,000/ton-level. Despite the cold response, the trader is still being firm on the offers and unwilling to give discounts this week. From another supplier, the trader received import offers for PP Homo Injection and PP Homo Raffia from another Saudi producer at $1,020/ton. The offers are indeed too high; hence, the trader decided not to offer the cargoes to customers. All offers on LC at sight, CFR Chittagong Port.
Although the offers are maintained firm at the current offer levels for this week, the trader revealed to SSESSMENTS.COM that there is a possibility for the offers to move lower around $10-20/ton in the upcoming weeks. Moreover, the trader is still questioning the sustainability of the current price trend.
