PP price trend in Vietnam from July to August is predicted to be on the flip side of the current trend, a local trader said to SSESSMENTS.COM. According to the trader, the rainy season during that period of time will cause PP prices to decrease. Meanwhile, this week, PP Homo Raffia offers from local producers surfaced with increments of between VND200,000-400,000/ton ($8-17/ton) compared to last week. Although a local producer increased offers by VND400,000/ton ($17/ton), offers from the producer remain more competitive as compared to offers from other producers in the country. Offers from the producer stood at VND23,000,000/ton ($982/ton) on cash, FD Vietnam basis and including 10% VAT.
For imports, offers for PP Homo Raffia cargoes of Middle East origin increased by $20/ton on a weekly comparison. Similarly, PP Homo Raffia offers from a Thai producer was also adjusted up to $940/ton on LC at sight, CIF Ho Chi Minh Port. The trader opined to SSESSMENTS.COM that the offers from Thailand were too high and no buyers were willing to purchase at such a high level so far.
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