A Vietnamese PP producer addressed the current condition in local and export markets encompassing China and Southeast Asia, also revealed May allocation. In China, the market situation is quite good as the rebound in crude oil prices has supported PP prices and buying sentiment. While in Southeast Asia, the overall demand is still limped by Coronavirus issues. However, with the positive energy market and better demand in China; the producer opined to SSESSMENTS.COM that PP prices should be stable at the current level or even slightly inched higher in the days to come. In the domestic market, the market condition is almost back to normal, most people already working full-time and schools are also starting to open.
Speaking of sales, the producer is usually selling their cargoes to China and Southeast Asia market via traders. But recently, the producer attempted to sell their cargoes directly to buyers, especially in the China market. Citing that it is rather easy to sell cargoes to the China market; which makes most producers out of inventory pressure. In terms of allocation, the producer is providing 24,000 tons of prime quality PP Homo Raffia materials for this month. Further added to SSESSMENTS.COM, the producer’s PP plant is running normally at the moment, no plans to conduct maintenance shutdown for a few months ahead.
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