Import homo-PP prices remain weak in SE Asia
A converter operating in Vietnam reported that he received import homo-PP raffia offers at $820-830/ton CIF, cash for a Chinese origin and at $880/ton with the same terms for a Saudi origin. “Demand for our end products is regular. We are cautiously purchasing according to our immediate needs. At the moment, we are not in a hurry to replenish thanks to our sufficient stocks. Hence, we did not accept these offers for Chinese PP. Prices are likely to follow a stable to softer trend in December,” the buyer commented.
A trader in Vietnam stated that they received bids for Saudi raffia at $850/ton CIF, cash. He said, “Demand in Vietnam is quite slow at the moment. Our customers are waiting to receive additional decreases. We are trying to maintain our offers; however we may need to reduce them soon.”
An Indonesian converter reported purchasing 200 tons of Saudi raffia at $890/ton on a CIF, cash basis. He stated, “Local supplies are still regular. However, supply from some Saudi producers is a bit limited nowadays. We concluded a deal at this level as we found the price to be attractive. However, we are not feeling confident about the January outlook. We see good demand for our end products nowadays.”
In Southeast Asia, overall homo-PP raffia prices are currently reported at $820-960/ton on a CIF SEA, cash equivalent basis. According to ChemOrbis Price Index, the range suggests decreases of $20-60/ton when compared to the prior week.
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