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SE Asian PP buyers expect further decreases

by ChemOrbis Editorial Team -
  • 06/08/2015 (17:46)
PP buyers in Southeast Asia remained on the sidelines for another week as they believe that prices still have room to decrease in the face of lower upstream costs and sufficient supplies.

A trader reported that they received offers for Brazilian raffia at $1090/ton CIF, cash and Saudi homo-PP injection at $1120/ton with the same terms. He commented, “Our customers are placing bids at around $1060-1090/ton and we are planning to wait for a while longer before purchasing as we think that prices still have room to decline.”

A second trader stated that he was offered Southeast Asian raffia at $1160/ton CIF, cash. “We are planning to delay our purchases as we believe that prices will eventually drop to the $1000-1100/ton range,” he said.

Meanwhile, a woven bag manufacturer in Indonesia reported receiving an offer for Thai raffia at $1150/ton CIF, cash. The buyer stated, “We did not purchase this material as we feel that prices will fall to around $1025/ton before stabilizing. Demand for our end products remains stable.”

In Southeast Asia, import homo-PP injection and raffia prices are currently reported at $1090-1190/ton CIF SEA, cash equivalent basis.
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