SE Asian PP buyers expect further decreases
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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