Vietnamese converter: Local PP prices gain further ground

A PP woven bag manufacturer in Vietnam reported that local homo-PP prices recorded additional increases this week despite the ongoing stagnancy of domestic demand.

The buyer commented, “The local PP market started the week on a steady trend, yet sellers lifted their offers further by around VND200,000/ton ($9/ton) as of today. We are limiting our purchases according our immediate needs just like most buyers do nowadays as the current offer levels are too high to be accepted.”

The converter received slightly higher homo-PP raffia offers for both Vietnamese and Saudi Arabian origins at VND30,800,000-31,000,000/ton ($1238-1246/ton without VAT) on FD Vietnam, cash equivalent inc VAT basis.