Middle East homo-PP to Vietnam Reach $850/t Threshold

CommoPlast

Vietnam PP market started this week with quiet sentiment, softening local prices and very few import offers. However, today players reported import homo-PP from Middle East has reached a brand new threshold of $850/t CIF Vietnam - the lowest level seen in many years.

A woven bag maker said, "We purchased 100 tons of Saudi homo-PP at $850/t CIF term and our supplier promise us that they would lend us some material in Jan 2016 if this cargoes delay and we run low on stock at that time."

The buyer also receive offer from another Middle East supplier at the same level.

Another buyer added, "We also receive the same offer for this origin. We are in talk with our supplier now and we might proceed with purchases in the afternoon. Demand for our end product is regular at the moment."

Import homo-PP to Vietnam this week reported at $850-890/t CIF LC AS term.

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