An Indian trader contacted by SSESSMENTS.COM revealed buyers’ preference on PP procurement activity. On a monthly comparison, offers for import PP Homo Raffia cargoes of Saudi and Oman origins to India increased by $40/ton and $10/ton, respectively. Meanwhile, offers for import PP Block Copolymer and PP Homo Raffia cargoes from a United Arab Emirates producer are available between $970-980/ton and $920/ton, respectively, on LC at sight, CIF India Main Port basis, no price comparison was disclosed. Responding to the offers, the trader stated that buyers are still buying import materials on a hand-to-mouth basis since the offers are deemed less competitive compared to local cargoes. Hence, buyers prefer to source local materials.
Demand-wise, the trader explained that demand for PP Homo Raffia grades is ongoing. As for other PP grades, there were some inquiries recently for PP Block Copolymer MFI 8-10, which is for battery casing. Other than those grades mentioned, the demand is still sluggish, SSESSMENTS.COM was told. Speaking of the outlook, the trader predicts that import PP prices to India will remain stable in the near term.
