USA homo-PP concluded with further discount in China, deepens the softening path

Chinese players reported to have obtained additional discount on deals for USA homo-PP cargoes this week, carving stronger expectation amongst players for price reduction from other overseas suppliers. In fact, several deals for this origin are reported at $960/ton CFR China, LC 90 days term, some $20/ton lower than in previous week.

A trader purchased 2,000 tons of the cargoes informed, “Our supplier agreed to additional discount after a long negotiation. Our supplier informed that they have left not much quantity by now, and though it is trader’s packing, we feel this is very competitive levels.”