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Two major overseas suppliers announced fresh weekly offers for import homo-PP to Vietnam at unchanged levels from last week, however, buyers are not showing much interest despite the constant supply tightness condition.

Saudi Arabia cargoes are offered at $1260/ton for yarn and $1250/ton for injection, all based on CIF Vietnam, LC AS term. Vietnamese buyers think that deals should derive at the range $1230-1240/ton for yarn, with the same term. “Even if the supplier agrees to such discount, we have no plan to procure large quantity. End product demand is not strong,” a woven bag converter said.

Meanwhile, household product converters decided to source homo-PP injection cargoes from the local market, which are deemed more competitive at the moment.

Thailand homo-PP stands at $1265/ton for both yarn and injection grade and a number of buyers have expressed the buy idea at $15/ton lower. “Market is not active and the pressure from new capacity is there. Would the maker agree to the discount, we shall procure a small quantity,” a local trader said.