A Thai trader informed SSESSMENTS.COM that a wide gap between offer and buy idea for PP Homo Raffia recorded in the Vietnam market. The trader offered the grade at $900/ton on LC at sight, CIF Vietnam main port basis, but buyers expressed buy ideas between $70-80/ton lower than the offer level. As the levels expressed are too low, the supplier could not sell at those levels.
The trader also commented that considering the current slow demand, PP prices will continue to head south. Based on the current naphtha price, PP Homo Raffia prices should be slightly above $700/ton on CIF basis. SSESSMENTS.COM’s data showed that on March 25, Naphtha price stood at $292/ton CFR Japan.
