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Indian PP raffia dealt $20 lower in China

by ChemOrbis Editorial Team - content@chemorbis.com
  • 20/09/2016 (18:00)
Import PP prices were on a mostly steady trend for the past two months in China. This week, the import PP market appears to have yielded to the downward pressure from poor demand and sufficient supplies as these factors have already weighed down on local PP prices inside 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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