Indian major announced PP offers to Vietnam

According to market sources, a major Indian producer has announced fresh homo-PP offers to Vietnam today at $1030/ton for yarn and injection and $1055/ton for film grade, all based on CIF Vietnam, LC AS term. Initial market respond is not very positive.

A distributor offered on behalf of the producer said, “Our customers are not very responsive after receiving the new prices. Some are informally talking about the $1000/ton buy idea; however, we think our principal suppliers might not accept this level anymore.”

A converter received the new prices informed, “We are fully covered till end of February, hence not having interest to make purchases at the moment. The PP market is full of uncertainties. We think market is returning to the tug of war between low availability from international market and unsupportive demand.”