USA homo-PP traded below $1000/ton mark in China

Chinese players reported receiving offers for USA homo-PP at below $1000/ton threshold today, touching $980/ton CFR China, LC 90 days term amid unpleasant surprised of many other players.

A trader purchased 1000 tons of the material said, “All eyes are on this level now. Market started to look at the three-digits prices from international suppliers. We heard rumor about some adjustments from Middle Eastern maker as well and we are looking forward to purchase additional cargoes.”

Besides homo-PP cargoes, a considerable quantity of PP block copolymer is also offered at competitive prices. A supplier sold 3000 tons of this material at $1020-1040/ton CFR China, LC 90 days term informed, “Demand is not that all bad since buyers have not been able to replenish needed cargoes at desirable prices in the past months. We manage to well very well this time.”

Market is expecting more USA cargoes to come in the near term as suppliers here might attempt to speed up sales before the long holidays in December.