- Far East Asia origin $820-880/ton
- Middle East origin $730-800/ton
- Southeast Asia origin $800-870/ton
Comments by market players on PP Homo Raffia as follows:
“On April 3, we managed to conclude deals for PP Homo Raffia of Saudi origin at $730/ton on LC at sight, CIF Vietnam Main Port basis,” a Vietnamese trader reported to SSESSMENTS.COM.
“To export market, a Thai producer reduced PP Homo Raffia offers to Vietnam market by $30/ton on a weekly comparison. Despite the reduction, the current offers still deemed too high and unworkable. We believe that buyers will be unwilling to purchase cargoes at this level. However, the current offer level is still negotiable and the producer will consider selling lower if customers submit firm bids. Yet, we are unwilling to offer at very low prices as it does not guarantee that the sales will be better,” a Thai trader explained.
“Import PP Homo Raffia offers of Saudi origin revised down by $30/ton in the previous week, the offers were available at $790/ton on LC at sight, CIF Myanmar Main Port basis. However, customers were asking prices below $780/ton-level,” a Myanmar trader informed SSESSMENTS.COM.
“The offers for PP Homo Raffia of Middle East origin to Indonesia market at $830/ton were deemed unworkable by buyers. Although bids at $750/ton are likely to be accepted, we think that buyers will still hesitate to make procurement and might end up in cancelling the bids. We are willing to negotiate up to $750/ton-level as the market is terrible since demand has been affected significantly by the Coronavirus outbreak in the country. Most buyers expressed buy idea around $700/ton-level. All offers on LC at sight, CIF Indonesia Main Port basis,” a global trading house reported to SSESSMENTS.COM.
“From our end, there was no transaction for PP in the Philippines market for the last two weeks as 97% of converters already halted the production due to the lockdown. Hence, buyers are not interested in purchasing new materials,” a regional trader stated.
