Saudi raffia breaks below $1000 in China
by ChemOrbis Editorial Team - content@chemorbis.com
Traders in China’s import PP market reported that the offer levels they received for Saudi homo-PP raffia broke below the $1000/ton threshold this week. This is the first time this year Saudi homo PP raffia fell below this threshold in China while US raffia was last traded at $990/ton CIF in late April.
A trader reported that they received homo-PP raffia offers from two different Saudi producers at $980/ton and $990/ton CIF China, cash.
Another Chinese trader also informed that they received offers at $970/ton CIF, cash for Saudi raffia.
Overall, Saudi Arabian homo-PP raffia cargoes are currently priced at $970-1010/ton on CIF China, cash basis.
Upon this development, a trader in Indonesia commented, “We think that PP prices in Southeast Asia may witness additional losses since offers in China are already standing at $970/ton CIF.”
A trader reported that they received homo-PP raffia offers from two different Saudi producers at $980/ton and $990/ton CIF China, cash.
Another Chinese trader also informed that they received offers at $970/ton CIF, cash for Saudi raffia.
Overall, Saudi Arabian homo-PP raffia cargoes are currently priced at $970-1010/ton on CIF China, cash basis.
Upon this development, a trader in Indonesia commented, “We think that PP prices in Southeast Asia may witness additional losses since offers in China are already standing at $970/ton CIF.”
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