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According to Vietnamese buyers, coal based homo-PP offers from China have softened by $20/ton from last week to reach $1050-1060/ton CIF Vietnam, LC AS term on the first trading day of the week. Couple of deals are reported at this level as buyers perceived this level to be competitive.

A source close to the producer informed, “We managed to sell about 1000 tons to export market today with few hundred tons to Vietnam. We are looking for opportunity to expand the export ground since local demand is still slack.”

A Vietnamese converter received offers for the cargoes at $1060/ton CIF Vietnam said, “The supplier is open to negotiation, however we have made some purchases last week at slightly higher level, hence not planning to replenish additional quantity this week. This situation might indicate possiblity that prices could continue to move lower in the coming week, especially when propylene costs is so soft.”