- Middle East origin $940-950/ton
- Far East Asia origin $890-970/ton
- Southeast Asia origin $990/ton
Comments by market players on PP Homo Raffia as follows:
A South Korean producer contacted by SSESSMENTS.COM on July 22 commented that, “This week, the offers for import PP Homo Raffia cargoes to China market remain stable on a weekly comparison, available at $970/ton on LC at sight, CIF China Main Port basis. However, we have not sold all of the allocations for August shipment yet so far while the market sentiment is sluggish. As such, we are having difficulties in concluding deals.”
“For import cargoes, the offers for Japanese and Indian PP Homo Raffia cargoes to China market were recorded at $900-910/ton with the done deals achieved at $890/ton for both origins. While for Indonesian cargoes, we received offers at $990/ton, which is deemed unworkable. All offers on LC at sight, CIF China Main Port basis. In our opinion, even offers at $960/ton-level will be deemed unworkable as the domestic prices have been decreasing. As such, the current level captured for import cargoes would be most likely unsustainable and eventually be adjusted lower,” a Chinese trader stated.
“We are offering PP Homo Raffia cargoes from a Saudi producer at $950/ton on LC at sight, CIF China Main Port basis. However, buying sentiment is sluggish and there is no done deal achieved yet. Pertaining to the outlook, we agree that the PP prices will still have room to decrease in the near term as in the previous two weeks the prices have gone up significantly,” a local trader reported on July 21.
Another local trader also revealed to SSESSMENTS.COM that, “Most buyers are less interested in import cargoes. As reported, some buyers voice out their buy idea for Middle Eastern PP Homo Raffia only at $900-920/ton on LC at sight, CIF China Main Port basis. Meanwhile, those levels are certainly lower than the prices offered by traders. From the traders’ end, the offers for import Middle Eastern PP Homo Raffia cargoes to China market are available between $940-950/ton with the same payment and delivery terms.”
