PP raffia deals concluded at new low levels in China
According to ChemOrbis Price Index, average import homo-PP prices on a CFR China basis are currently standing at their lowest levels since March 2009.
A second Shanghai-based trader reported that they are offering Indian raffia at $920/ton CFR, cash and Saudi raffia at $930/ton with the same terms. He commented, “Demand is quite weak at the moment as buyers are not willing to build stocks. We are open to negotiations on our offers as we want to deplete our stocks before the year end. We believe that prices will witness additional reductions in the coming days. We may see levels below the $900/ton threshold soon.”
In China, overall import homo-PP raffia prices are currently standing at $900-970/ton on a CFR, cash equivalent basis.
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