Saudi major cuts homo-PP offers to China

Market players reported receiving fresh official offers for homo-PP yarn and injection from a Saudi Arabia producer at $40/ton reduction from late July to reach $970/ton CFR China, LC 30 days term.
 

Market participants believed that suppliers might not face any major obstruction in attracting buyers at this levels, with a source informed, “Customers have shown great interest in these cargoes party due to a small quantity our principal has. Besides, local material is becoming more expensive now, hence import cargoes at the lower end of the overall price range are highly preferred.”