The leading Indian petrochemical producer revealed to SSESSMENTS.COM the sales achievement for PP and assesses lockdown impact on shipment. So far, the producer only managed to conclude deals to Southeast Asia and Bangladesh market as most customers are not in a rush in making purchases. To Southeast Asia market, done deals for PP Homo Raffia were concluded at $845/ton on LC at sight, CIF Main Port basis. The offers decreased by $55/ton from two weeks ago and deals were concluded at the initial offer level. While to Bangladesh market, the offers for PP Homo Raffia also decreased by $60/ton from a fortnight ago and done deals closed at the initial offer level at $880/ton on LC at sight, CFR Main Port basis.
To China market, the producer’s offers for PP Homo Raffia were adjusted down further by another $40/ton as compared to the offer given earlier this week. While compared two weeks ago, the current offers for PP Homo Raffia to China have dropped between $90-100/ton in total. SSESSMENTS.COM data showed that the producer’s offers on March 13 were at $870-880/ton on LC at sight, CIF China Main Port basis.
Pertaining to the lockdown in India, the producer stated that there is no shipment issue from the company’s end. Despite the lockdown, the company still able to deliver materials as they are being transferred via railway to the port, and the port is still operating as well. Hence, cargoes shipments still can be done, SSESSMENTS.COM was told.
