- China origin $900/ton
- Middle East origin $810-880/ton
- Southeast Asia origin $930-990/ton
Comments by market players on PP Homo Raffia as follows:
“Our sell idea is at $900/ton-level for Southeast Asia origin PP Homo Raffia cargoes, which is supported by firm feedstock prices and limited availability of the materials. However, we think that by mid-July we might see some U-turn in prices if the uptrend goes too fast,” a global trading house informed on June 1.
“Import Middle East origin PP Homo Raffia is currently being offered at $865-880/ton on LC at sight, CIF Myanmar Main Port basis,” a Yangon-based trader told SSESSMENTS.COM
“Import offers for Middle Eastern PP Homo Raffia cargoes are available at $810/ton on LC at sight, CIF Indonesia Main Port basis, yet we did not take the cargoes. Import PP prices are currently on an upward trend, Southeast Asian cargoes mostly already above $900/ton-level,” a converter based in Indonesia commented on June 2.
“This week's offers for PP Homo Raffia are at $950/ton on LC at sight, CIF Indonesia Main Port Basis. The offers are up by $20/ton compared to last week. However, any orders will be sent out only after two weeks from now since we do not have any materials available at the moment,” a Thai PP producer told SSESSMENTS.COM on June 2.
“We received fresh import offers from Thai and Saudi producers this week. PP Homo Raffia cargoes from a Thai producer are available at $970/ton, an increase of $30/ton from last week’s level. Likewise, PP Homo Raffia offers from a Saudi producer increased by $30-40/ton as compared to the same period, now at $900/ton. All offers are on LC at sight, CIF Vietnam Main Port basis. We are still collecting feedback from customers towards these offers,” a Vietnamese trader told SSESSMENTS.COM on June 3.
“COVID-19 pandemic is already easing in Vietnam, but still, the customers show some resistance towards higher offers available in the market since there is not much improvement in finished goods demand. There are no deals concluded for India origin PP Homo Raffia offers, which stand at $880/ton on LC at sight, CIF Vietnam Main Port basis. In terms of outlook, import offers should be stable at the current level to be accepted in the market, albeit the crude oil prices may increase in the near future,” a Vietnamese trader commented on June 4.
“A Chinese producer is still quoting firm prices for PP Homo Raffia at $900/ton this week. From a Thai producer, offers for the same product stands at $990/ton, which is $40/ton higher from last week citing limited quantity to offer. All offers are on LC at sight, CIF Vietnam Main Port basis. As we sit out this week, we expect PP prices to retreat by the end of this month,” a Vietnamese trader told SSESSMENTS.COM on June 5.
“We concluded a deal for PP Homo Raffia from a Middle Eastern producer at the initial offer at $920/ton on LC at sight, CIF Haiphong Port. The latest offers are $40/ton higher from last week,” a Haiphong-based converter revealed on June 5.
“Middle Eastern suppliers said they have sold out materials available at nearby ports, they only have materials to be shipped from the Middle East for now, available at $860 on LC at sight, CIF Vietnam Main Port basis. However, we skipped purchases as the offer is too high after adding the customs duty. As the weather is extremely hot in Northern Vietnam, demand for construction PP products from our side is quite slow, even decreased compared to May as people could not conduct constructing under the scorching heat. Our running rate remained unchanged from last week at 60-70% from normal capacity, although we are still making procurement on a hand-to-mouth basis as the outlook is hard to predict,” a Vietnamese trader and converter told SSESSMENTS.COM.
