- Middle East origin $810-830/ton
- Southeast Asia origin $860/ton
- South America origin $780/ton
Comments by market players on PP Homo Raffia as follows:
“We received import PP Homo Raffia offers from a Thai producer at $860/ton on LC at sight, CIF Vietnam Main Port basis, which is $10/ton higher compared to a week earlier claiming that the producer has no sales pressure due to the upcoming maintenance shutdown. While for import PP Homo Raffia from a Saudi producer, the offers have been adjusted further between $80-90/ton lower compared to the initial offer level announced at the end of April. Despite the adjustment, the offers were still unattractive. Hence, we decided to skip the procurements,” a Vietnamese converter informed SSESSMENTS.COM.
“We received import PP Homo Raffia offers from a Saudi producer at $820/ton on LC at sight, CIF Vietnam Main Port basis, which is $80/ton lower compared to the initial offer level announced in the week commencing April 20. Despite the hefty adjustment, customers were submitting bids at $70/ton lower from the initial offers and there was no response from the producer. However, we think that the producer is unwilling to accept bids at such a level as it seems that the producer does not have sales pressure at the moment,” a Vietnamese trader commented.
“For the week commencing May 4, we received import PP Homo Raffia offers from a Saudi producer at $820/ton on LC at sight, CIF Indonesia Main Port basis. Considering the market situation, we were planning to submit bids at $60/ton lower than the initial offer level. However, we are unsure whether the producer would be willing to accept such a level. For Southeast Asia origin, we have not received fresh offers for this week yet,” an Indonesian converter reported to SSESSMENTS.COM on May 5.
“This week, we did not receive import offers for Southeast Asian PP Homo Raffia cargoes. Following the uptrend in the China market, most Southeast Asian producers sold a lot of cargoes to the China market in the previous three weeks, hence, there is no sales pressure from their end at the moment. In our opinion, most Middle Eastern and Southeast Asian suppliers will most likely attempt to sell more cargoes to China considering the better netback and demand compared to the Southeast Asia market,” a Thai trader commented.
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