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SE Asian PP buyers expect lower prices

by ChemOrbis Editorial Team -
  • 05/11/2015 (16:41)
Several buyers in Southeast Asia state that they are expecting to see lower PP prices in the coming days, pointing to the softening trend in the nearby Chinese market. Many buyers are waiting on the sidelines nowadays in anticipation of seeing more offers below the $1000/ton threshold before they make fresh purchases.

An Indonesian converter reported that he received PP raffia offers from two different Saudi suppliers at $970/ton CIF, cash. “We are planning to wait on the sidelines as we believe that we will be able to conclude deals at $950/ton or less later in the month,” the buyer commented.

In Vietnam, a plastic containers manufacturer reported that they received offers for Indian and Saudi raffia and injection at $990/ton CIF, cash. He said, “We placed bids at around $900-950/ton CIF, cash. We are not in a hurry to replenish as we are covered for the next two months.”

Meanwhile, a trader reported that he was offered Taiwanese and coal based Chinese raffia at $980/ton CIF, cash, commenting, “We think that prices for Chinese origins will decrease to $950/ton next week.”

In Southeast Asia, import homo-PP raffia and injection prices are currently standing at $970-1060/ton CIF SEA, cash equivalent basis.
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