Re-export PP from China available below $1100 in Vietnam
This week, the latest re-export offers from China moved lower and broke below the $1100/ton threshold.
A trader, offering US homo PP injection to the Vietnamese market at $1080/ton CFR, cash basis noted, “Our offer inched down by $5/ton from yesterday and we are concluding a good number of deals.”
Another trader commented, “As we think that China’s PP market is under pressure due to the overcapacity issues, we are focusing on re-export activities. The buying interest for import cargoes is quite slow as local prices are more competitive.”
A third trader reported relatively lower offers for US and Saudi PP raffia respectively at $1030/ton and at $1020/ton, all on a CIF Vietnam, cash basis.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Initial ABS prices for July see larger increases than PS in Europe
- Supply constraints spark stronger PE trend than PP in global markets
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem