Chinese buyers’ local preference continues to put pressure on import PP
Import PP raffia offers for Indian origin, which was quoted at $985-1015/ton CIF China, cash last week, is reported at $960-975/ton so far this week.
A Chinese masterbatch producer opined, “Import PP prices declined by $10-30/ton from a week earlier. Demand for import materials remains weak and players prefer to source from the local market. Demand for local material is better than imports. In addition, players are still limiting their purchases to their immediate needs.”
A trader concurred that demand is low for imports saying, “Import PP has been on a weak trend since the beginning of last week. Offers are not firm and are subject to discounts. Demand for local material is better in comparison to imports and domestic producers do not have much pressure to sell due to reasonable inventory levels.”
In China, the overall import market for homo PP raffia is reported at $960-1030/ton CIF, cash so far this week.
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