Indian Oil's homo-PP emerged in Vietnam

Vietnamese players this week reported seeing the emergence of Indian Oil Corp’s homo-PP cargoes in the country, which buyers usually don’t see. There is no specific offer level given by supplier, instead buyers are invited to place bid for the available quantity.

A distributor offer on behalf of the producer informed, “Market respond is a little slow given the irregularity. We did received some bids, however, we need to work more on the negotiation before real deals can be formed.”

A trader placed bid for the cargoes at $950/ton CIF Vietnam, LC AS term commented, “Such irregular cargoes appears in Vietnam might indicate a weak demand condition in local India market. We are a bit concern about the converter’s acceptance, yet we might take a small quantity if our buy ideas get accepted.”