Saudi producer announces March PP prices to China
A trader operating in Shanghai commented, “Many players are yet to return to their desks after the holidays. Hence, the demand outlook remains unclear for now. We received a March shipment raffia offer for a Saudi origin with an increase from the pre-holiday levels. Middle Eastern suppliers have recently been limiting their allocations to China as they are able to obtain better margins in Europe.”
Another trader who also received a new raffia offer for March from the Saudi producer stated, “The producer revealed firmer prices for March. However, buyers are still adopting a wait and see attitude.”
In China, import homo-PP raffia prices are currently reported at $817-852/ton on a CFR, cash equivalent basis.
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