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PP re-exports from China aggressive in Vietnam

by ChemOrbis Editorial Team -
  • 17/03/2017 (13:34)
As ample supplies and sluggish demand continue to exert pressure on China’s PP market, players in the country are now offering re-export cargoes especially to the Vietnamese market more aggressively.

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.
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