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According to market players, a major Indian producer has down adjusted their import homo-PP prices to Vietnam by $20/ton compared to last week due to stiff buyer’s resistance. The producer’s latest offer stands at $1050/ton CIF Vietnam, LC AS term.

A buyer received the adjusted prices said, “We think the PP bulls is slowing down in Vietnam now that buyers are not showing great buying appetite, party due to sufficient stock from previous purchases and also weak end products sales. However, the momentum is mounting in the nearby China market, which might extended the support in SEA in the near term.”

Several deals for this origin were heard at $1030/ton CIF Vietnam, LC AS term, estimated cargo arrival by late August 2016. Import homo-PP to Vietnam is now reported at $1010-1070/ton CIF, LC AS term.