Players in SEA receive firmer Mid-Eastern PP prices
by ChemOrbis Editorial Team - content@chemorbis.com
In Southeast Asia, PP players reported that they have started to receive higher prices for Middle Eastern origins due to less availability stemming from shorter working hours during Ramadan as well as improved demand from the nearby Chinese market. Sellers had been diverting additional materials to Southeast Asia during the past few weeks during a period of weaker than expected demand in China.
A distributor offering on behalf of a Saudi producer reported that they raised their prices by $20/ton to $1000/ton CIF, adding, “Sentiment in China is shifting over concerns of possible supply tightness due to the upcoming G20 Summit.”
Buyers have started to source some material as they are not certain about the upcoming trend and are worried about the possibility of further increases. Demand has picked up a bit due to a recovery in buying activities and changing sentiment in China. A converter commented, “We find current prices high for now and we plan to delay our purchases if prices remain above the $1000/ton threshold as we have enough material to meet our needs until July.”
Middle Eastern prices for homo-PP injection and raffia currently stand at $980-1010/ton CIF SEA, cash equivalent basis.
A distributor offering on behalf of a Saudi producer reported that they raised their prices by $20/ton to $1000/ton CIF, adding, “Sentiment in China is shifting over concerns of possible supply tightness due to the upcoming G20 Summit.”
Buyers have started to source some material as they are not certain about the upcoming trend and are worried about the possibility of further increases. Demand has picked up a bit due to a recovery in buying activities and changing sentiment in China. A converter commented, “We find current prices high for now and we plan to delay our purchases if prices remain above the $1000/ton threshold as we have enough material to meet our needs until July.”
Middle Eastern prices for homo-PP injection and raffia currently stand at $980-1010/ton CIF SEA, cash equivalent basis.
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