Trading sentiment across the Asian PP and PE market remained dwindling and despite the spreading expectations that the recent downtrend might be nearing the bottom
Chinese sellers are, therefore, caught in a challenging position as their export offers are now unable to compete with more aggressive origins such as South Korea and India.
In the meantime, a Thailand producer attempted to stimulate LLDPE film sales by bundling the grade with other cargoes, such as LDPE film and metallocene PE.
There have been reports that buyers generally prefer to wait on the sideline while in Northeast Asia, buying ideas emerged well below the $850/ton threshold.
In India, a major local producer lifted PVC offers for the second time in two weeks, adding another INR1,000/ton on the back of the gradual demand improvement.
Real demand remains sluggish. Several converters in the agricultural film sector reported a reduction in new orders by 30-40% compared to the same period last year.
In Vietnam, several Chinese suppliers agreed to close deals for import homo-PP yarn below the $950/ton threshold
In Vietnam, the homo-PP market started the week on a mixed note, however, more Chinese sellers softened their stance on spot cargoes
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