Import homo-PP sees further hike in Vietnam

Vietnamese players reported that couple of international suppliers have opened their new homo-PP offers for dutiable origins today with additional increases to reach $1020-1040/t CIF Vietnam, LC AS term. 

A major Saudi Arabia maker implemented additional $30-40/t hike on their cargoes today just after $100/t increased yesterday to reach $1020/t CIF Vietnam term. A buyer received the new prices said, “We are trying to bid at $1000/t level. We are planning to replenish a small quantity if the supplier accepts our bid. We are not interested in cargoes above $1020/t as market outlook in the medium term is rather cloudy.”

Meanwhile, another major Indian producer introduced $140-150/t hike to their latest official price opening to Vietnam to reach $1030-1040/t CIF term. Players added that there is only 300 tons of material available for this offer and supplier is not interested in negotiation. 

Import homo-PP prices to Vietnam is currently stand at $960-1040/t CIF Vietnam, LC AS term.

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