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Import PP prices sink to fresh lows in China

by ChemOrbis Editorial Team -
  • 31/07/2015 (17:09)
Players in China report that import PP prices sank to a fresh low towards the end of the week, pushing import homo-PP prices on a CFR China basis to their lowest levels since mid-February, according to data from ChemOrbis Price Index. A trader said that they received raffia offers at $1060-1080/ton CFR, 90 days for a Brazilian origin and at $1080/ton CFR, 60 days for a Saudi origin. “We are not planning to make fresh purchases for now as we think that prices still have room to fall. We believe that import prices may fall as low as $970/ton,” the trader stated.

Another trader said that they received an offer for Indian raffia at $1080/ton CFR, cash. “We plan to wait for a while longer before purchasing as we think that prices have not yet reached the bottom,” the trader commented.

Offers for homo-PP injection and raffia currently stand at $1044-1160/ton CFR China, cash equivalent basis.
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