A global trading house reported to SSESSMENTS.COM that a South Korean producer adjusted PP offers to the Vietnam market to meet buyers’ acceptance level, however, the offers still received a tedious response. In the previous week, the offers for import PP Homo Raffia cargoes from a South Korean producer to the Vietnam market stood at $1,020/ton. However, the offers were deemed too high and buyers were unwilling to make purchases. As such, coming to this week, the producer lowered the offers for the grade by $40/ton from last week’s level, currently at $980/ton. All offers on LC at sight, CIF Vietnam Main Port bais. Despite the reduction, there are no deals concluded so far. The trader stated that customers prefer to purchase Saudi PP Homo Raffia cargoes as market talks have it that buyers managed to get the cargoes at $940/ton on the same payment and delivery term, which is more attractive.
Demand-wise, the trader informed SSESSMENTS.COM that the demand in July is better compared to June. However, from the converters’ end, there is no improvement recorded for their finished product demand. As such, the trader opined that PP price will most likely remain stable in the near term.
