Import Indian homo-PP offered at discount in China

A major Indian maker has announced new offers for homo-PP to China today with a reduction of $40/t compared to their last offer level to reach $910/t CFR China, LC 30 days basis for July shipment.
 

Even with the latest discount, many players are not convinced that the market is reaching the bottom with a source commented, “Buyers continue to purchase hand to mouth basis. Our regular customers even express buy idea at below $900/ton threshold, from which we feel very concern about the near term outlook.”