Indian major cut homo-PP prices to Vietnam

According to market sources, a major Indian producer has announced fresh homo-PP offers to Vietnam today at $15-25/ton lower than last week, reaching $1010-1020/ton CIF Vietnam, LC AS term.

A buyer source informed, “The market is too volatile and it is really difficult to gauge the likely direction in the near term, therefore we feel insecure to replenish cargoes at the current condition. We think room for further reduction is minimizing, however plunging futures market in China might indicate a pessimistic outlook.”