A local trader informed SSESSMENTS.COM on the movement in import PP offers to Vietnam following the upward momentum in China market. Last week, deals for PP Homo Raffia of Saudi origin concluded between $730-750/ton on LC at sight, CIF Vietnam Main Port basis. However, this week, the producer is not willing to accept such level and adamant on firm offers for PP Homo Raffia cargoes at $770/ton on the same payment and delivery term. Likewise, offers for PP Homo Raffia from Chinese producer moved up by $20/ton on a weekly comparison. At the time of publication, no response gained from buyers toward the adjustment for import PP Homo Raffia cargoes.
On the trader’s end, the company is only doing back-to-back orders as most buyers are not interested to take the cargoes. The trader opined to SSESSMENTS.COM that the recent uptrend in PP prices will only last for a short period due to the sluggish demand in the market.
