- Middle East origin $710-760/ton
- Far East Asia origin $760/ton
- Southeast Asia origin $800-860/ton
Comments by market players on PP Homo Raffia as follows:
“On April 9, the offers for PP Homo Raffia from a Thai producer stood at $820/ton on LC at sight, CIF China Main Port basis, which is $40/ton lower compared to the offer level in the previous day. Despite the adjustment, most of our customers were submitting bids at $20/ton lower from the initial offer level,” a China-based trader reported to SSESSMENTS.COM.
“We received import PP Homo Raffia offers of Vietnam origin at $810/ton on LC at sight, CFR China Main Port basis on April 7, which has increased by more than $30/ton over the week. In a day interval, the offers for Vietnamese PP Homo Raffia to China market captured higher by $15/ton, available at $825/ton with the same payment and delivery term. At the moment, PP prices are firmer compared to PE prices, especially for PP Fiber grades as they are used in producing masks. While the demand for masks from both local and export markets is robust. Hence, sellers are utilizing the moment to increase the price,” a Chinese trader commented.
“On April 7, PP Homo Raffia cargoes from the leading Indian petrochemical producer sold to China at $725/ton on LC 30 days. On the same day, PP Homo Raffia cargoes of Oman origin were concluded at $740/ton on LC 60 days. All offers were on CIF China Main Port basis. Further added, demand in the domestic market has yet to improve significantly, but some traders were aggressively taking cargoes from those producers to make profits; to hedge in the futures market,” a trader informed SSESSMENTS.COM.
“Following the uptrend in the domestic market, we decided to increase local PP Homo Raffia offers by CNY100/ton ($14/ton) on a weekly comparison. Regarding the current uptrend, we opined that it will sustain as supported by some factors, such as lesser supply in the domestic market, continuous improvement in demand for raw materials, and positive news from OPEC+ meeting,” a Chinese trader commented.
