SSESSMENTS.COM pricing database showed that import South Korean PP cargoes recorded noticeable price adjustment to Vietnam market. As informed by a Vietnamese trader, July shipment for South Korean PP Homo Raffia and PP Homo Injection cargoes were showing a noticeable upward price adjustment as much as $70-80/ton as compared to June shipment. While for Saudi origin, offers for PP Homo Injection and PP Homo Raffia reported stable on a weekly comparison. Likewise, during the same timeframe, PP Homo Raffia cargoes from the leading Indian petrochemical producer were also stable on the high-end level of the price range.
So far, the upward price adjustment made by the South Korean producer is the highest compared to offers of other origins. SSESSMENTS.COM noted that last week, import PP Homo Raffia offers from several foreign suppliers to the Vietnam market ranged between $20-30/ton higher on a weekly comparison. For Southeast Asian cargoes, last week a Malaysian polyolefins producer increased PP Homo Raffia prices for July shipment by $20/ton. The highest offers captured on Thai PP Homo Raffia cargoes, stood at $1,050/ton on LC at sight, CIF Vietnam main port basis. The tight supply at the producer’s end claimed as a foothold for the high prices. For Middle Eastern cargoes, the offers increased between $20-30/ton. While for Indian cargoes, the leading Indian petrochemical producer increased the offers by $20/ton as compared to deals level.
