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Russian PP shows up at low ends in China, SEA, Turkey

by ChemOrbis Editorial Team -
  • 10/12/2014 (14:28)
Players in China, Southeast Asia and Turkey have reported receiving competitive PP prices from Russia that form the low ends of the overall ranges this week.

In Turkey, Russian PP raffia from an irregular source has shown up recently at $1280-1300/ton CFR, cash, subject to 6.5% duty. A buyer receiving this offer said, “A large trader offered this level at the PlastEurasia Fair. We were using this material years ago but I don’t know whether or when it will come.”

Russian raffia emerged in China as well at quite competitive prices of $1150-1200/ton CFR, cash, players reported. This is the only origin that has broken below the $1200/ton threshold in China so far this week while other mainstream origins including Middle Eastern and Indian were reported at $1215-1245/ton CFR, cash equivalent basis. Several players argue that offers below $1200/ton could represent short sales, however.

Similarly an import PP injection price at $1200/ton showed up in Southeast Asia on a CFR, cash basis from Russia. Players in the region consider it as an irregular origin. It also stands at least $70/ton below other dutiable mainstream origins in the import market as Middle Eastern and Indian PP injection, which were offered at $1270-1300/ton with the same terms.
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