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Several suppliers reported on the first trading day of the week lift import offers for coal based homo-PP yarn to Vietnam by $10-20/ton from last week, reaching $1070-1090/ton CIF Vietnam, LC AS term with form E.

Sources are pointing to stronger futures trading and healthier demand in local China market as the main driver behind such prices decision. However, buyers are not very responsive toward new price levels. A Vietnamese converter said, “We are concern about the sustainability of this firmer trend, therefore we prefer to take cautious stance.”

Another buyer added, “Upstream costs are too soft while demand is not supporting a firming trend. We are on wait and see stance, as Muslim countries within the region would be off for holiday next week, which might dampen the general buying interest further.”