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After import homo-PP from USA breached below the $1000/ton mark in China earlier this week; Vietnamese players today reported to have concluded deal for this origin at $980-985/ton CIF, LC AS term, some $15-20/ton discount from the initial offer levels.

A market player purchased the cargoes at the above-mentioned prices planned to use the material for production instead of trading given suitable specification. Meanwhile, another converter received the offers at $1000/ton CIF Vietnam informed, “The supplier opened offer for approximate 2,000 tons allocation; however we did not proceed further as we think weakening energy market and the arrival of previous cargoes would further dampen buying interest in local market. This in turn would also impact the import ground. We prefer to hold wait and see stance in the coming days to monitor further movement.”

Import homo-PP to Vietnam at the moment stands at $980-1080/ton CIF, LC AS term.