More re-exported PP cargoes from China emerge in Vietnam
One trader reported that they received homo-PP raffia and injection offers for a Saudi Arabian origin from China at $1300/ton CIF Vietnam, cash. He commented, “PP prices are increasing at a higher pace than PE prices and we are planning to replenish some stocks as we think that prices may witness further increases over the near term. Distributors are bringing more re-export material from China to sell in Vietnam as supplies are tight in the country’s local market.”
A Vietnamese converter also reported that they were offered re-exported Saudi Arabian homo-PP injection cargoes from China at $1300/ton CIF, cash. “We found this level to be too high. However, we still think that the current firming trend will remain in place for the near term,” he stated.
Meanwhile, a Chinese trader said, “We have recently heard that many traders are re-exporting their homo-PP cargoes to other markets including Vietnam, India and Malaysia, where they claim to be seeing stronger demand.”
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