Local homo-PP prices increase in Vietnam

Vietnamese players reported receiving higher prices for local homo-PP cargoes, as domestic traders turn optimistic with the support from firming international trend.

A converter received homo-PP offers for Vietnamese material at VND25,300,000/ton ($1030/ton without VAT) and locally held Saudi cargoes at VND25,700,000/ton ($1045 without VAT), all based on FD Vietnam, cash term. The source said, “These latest offers indicate some VND500,000-600,000/ton ($22-26/ton) higher than yesterday. Our suppliers are holding back on their offers as market is expecting to see firmer levels in the near term.”