Indian PP raffia dealt $20 lower in China
Last week, the import PP raffia market mostly stood in the range of $975-990/ton CIF, cash with Indian origins forming the low end while Saudi offers stood at $990/ton and above. Players reported softer prices in the import market so far this week with Saudi offers retreating by $10-20/ton to $970-980/ton while Indian PP raffia offers are reported $15-20/ton lower at $960/ton with the same terms.
A trader also reported to have sold Indian PP raffia this week at $955/ton CIF China, cash. This makes a $20/ton decrease in a weekly comparison. A trader based in Shanghai commented, “Done deals for PP are rare this week. We prefer to position ourselves in a wait and see mode.”
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