US homo-PP breached below $1000/ton threshold in China

Chinese players reported on the first trading day of the week that USA homo-PP offered to the country at the range $960-980/ton from various producers, all based on CFR China, LC 90 days term. This is the first time import homo-PP from dutiable origin to the country breached below $1000/ton threshold in four weeks.

A trader received US homo-PP yarn at $980/ton with the same term clarified that prices at the lower end are mostly offers for homo-PP injection grade. The source added, “Customers are showing tendency to purchase at this price level as it is more competitive than local cargoes now. Though this is very irregular material, we think the pressure on other origin could be significant, especially when market is expecting more of USA parcels to come in the near term amid weak local demand in that market.”