Middle Eastern homo-PP injection received further adjustment in Vietnam

A major Middle Eastern producer reportedly down adjusted their homo-PP injection prices to Vietnam today by $20/ton compared to earlier this week due to weak buying interest for this grade while there are no changes on yarn cargoes. The latest price touches the $1000/ton threshold. This is the third price adjustment since the producer announced August delivery cargoes last week.

A distributor offer the material on behalf of the maker reported to have sold another 300 tons of material after the price adjustment. Meanwhile, a buyer in the country purchased 100 tons of the cargoes at the new price commented, “We are just buying in small quantity in expectation of seeing further reduction in the coming week. Demand in local market is rather weak at the moment due to improved supply from the arrival of previous purchase cargoes. Many domestic traders are offering discount in entice demand.”