Import homo-PP to Vietnam breached below the $1000/ton threshold

It is reported that import homo-PP to Vietnam has breached below the $1000/ton threshold this week after nearly five consecutive weeks of maintaining on the stable to firm track. Weak demand and comfortable supply are blamed for such reduction, especially when China market is entering the holiday mood.

A trader purchased Chinese homo-PP yarn at $990/ton CIF Vietnam, LC AS term, a duty free cargo, said, “We only purchased 50 tons of material as we are not very optimistic about the near term outlook, yet running low on inventories. Domestic market is weak and this trend might sustain in the near term.”

Another buyer receive the same offers commented, “Other Middle Eastern producers are still maintaining their prices above the $1000/ton threshold though this might not be sustainable given slow demand not only in Vietnam but also other markets. Buyers are very cautious at the moment and we are not in rush to replenish more cargoes.”

Import homo-PP to Vietnam currently stand at $990-1020/ton, CIF Vietnam, LC AS term.