An Indonesian trader contacted by SSESSMENTS.COM stated that import PP offers of Vietnam origin remain scarce following the supply issue at the producer’s end. According to the trader, PP allocation from a Vietnamese producer remain unavailable this week. As such, no fresh offers received by the trader. So far, no further information regarding the shortage of supply, however, the trader speculates that the producer might be focusing on selling and fulfilling the previous orders from China market.
More added, buyers have started to ask about the new prices and the availability of the PP materials. The trader opined that the current prices for PP Homo Injection and PP Homo Raffia should be above $950/ton-level. However, as demand for finished products demand could not be categorized as strong yet, last week, some buyers voiced out buy ideas for PP Homo Injection and PP Homo Raffia at a lower level compared to PP prices in the market, at $900-920/ton on LC at sight, CFR Indonesia Main Port basis. For the outlook, the trader is personally expecting PP prices to remain firm or slightly increase in the upcoming weeks, as told to SSESSMENTS.COM.
