PP re-exports from China aggressive in Vietnam
Although re-export PP cargoes in Vietnam have been available since early March, the offers for these cargoes have become more aggressive this week.
Chinese resellers’ more aggressive stance on re-exports was attributed to their aim for depleting their stocks given the slow digestion rate in their own PP market as well as receiving better netbacks.
The overall range for homo PP in Vietnam was reported at $1090-1280/ton CIF SEA, cash, breaking below the $1100/ton threshold this week. A Vietnamese trader reported receiving much more competitive levels at $1020/ton for Saudi PP raffia and at $1030/ton for US PP raffia, all on CIF, cash basis.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
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