Re-exported PP from China emerges in Indonesia, India
A trader based in Mumbai, India reported purchasing some Saudi Arabian homo-PP raffia re-exported from China at $1320/ton CIF India, cash. “Demand in China is apparently not doing well in contrast to pre-holiday expectations,” he stated.
A woven bag manufacturer in Indonesia reported that they purchased some re-exported homo-PP raffia from China for Saudi origins at $1300/ton CIF, cash. He commented, “Local supplies remain limited in Indonesia and we heard that demand for a local producer’s materials has cooled off due to their high offer levels.” A second woven bag manufacturer in the country stated that they purchased around 800 tons of coal-based homo-PP raffia from a trader at $1280/ton on a CIF, cash basis. The converter said, “Indonesian buyers need to make fresh purchases in order to meet their urgent needs while local supplies are quite limited nowadays. We think that coal-based materials might gain some market share in Southeast Asia assuming buyers find the quality of the material to be satisfactory.”
Meanwhile, in Myanmar, a trader reported receiving offers for Saudi Arabian homo-PP raffia and injection re-exported from China at $1350/ton CIF, cash. He commented, “Most buyers are trying to stay on the sidelines nowadays due to declining crude oil prices while traders are asking their customers to give bids for their re-exported PP offers. We are currently waiting to see new offers from other suppliers.”
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