Vietnamese PP players voice expectations for further drops
A trader commented, “We are not planning to make any fresh purchases at the moment as we feel that the import PP market still have room to fall.” Another trader stated, “We have received quite attractive prices for PP, but we are reluctant to secure these cargoes for now as we feel that it is not a good time to purchase PP as prices may witness additional drops soon.”
A third trader added, “We are not holding any inventories at the moment. Still, we have no plans to make fresh purchases for the near term as import PP prices are likely to post further decreases. We feel that prices may even break below the $1000/ton CIF threshold if demand remains subdued.”
Meanwhile, a converter stated that demand is still slow and additional PP declines are likely to come in the coming days. “We think that import PP prices will hit $1100/ton CIF, cash in the near term.”
In Vietnam, overall import homo-PP prices are currently reported at $1120-1200/ton for raffia and at $1140-1200/ton for injection, all on a CIF Vietnam, cash equivalent basis.
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