SE Asian PP buyers expect lower prices
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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