A Chinese trader informed SSESSMENTS.COM that notable adjustments on import offers for Vietnam PP Homo Raffia and PP Homo Injection cargoes to the country failed to gain buyers’ interest. According to the trader, offers for the two grades dropped by $120/ton to $860/ton on LC at sight, CIF China main port basis compared to a fortnight ago. Despite the adjustments, no deals were successfully concluded so far as buyers are unable to accept such a level.
In the domestic market, the price is in the opposite trend. The trader told SSESSMENTS.COM that offers for PP Homo Raffia and PP Homo Injection increased between CNY50-100/ton ($7-14/ton) compared to Friday’s levels (April 24) due to higher futures prices. However, the number of deals was limited as demand from converters remains soft since most decided to wait and monitor market movements.
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