Chinese PP offered to India, SE Asia
An agent in Thailand reported that they received an offer for Chinese coal based homo-PP raffia at $1260/ton CIF, cash. “We are planning to purchase this material to sell in our own market as we think that they will be competitive enough as no duties are applied on them,” he commented.
In Vietnam, a trader reported that they were offered conventional PP raffia for a Chinese origin at $1280/ton CIF, cash. He stated, “Demand is weak due to the ongoing rainy season and prices keep decreasing nowadays. Hence, we are not rushing to replenish our stocks.” Some Vietnamese converters also reported that they received even lower levels from major Chinese producer Sinopec for conventional PP cargoes.
In India, meanwhile, a trader stated that they placed bids for Sinopec’s conventional PP cargoes at $1150-1160/ton CIF, cash, adding that they are still negotiating with their supplier. “Our business has recently slowed down in the face of weak economic conditions,” he said.
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