Local homo-PP prices in Vietnam continue to move north

According to market sources, domestic traders in Vietnam are attempting to increase local homo-PP offers by another VND300,000-500,000/ton ($13-22/ton) from last week, reaching VND27,200,000-27,500,000/ton ($1085-1100/ton without VAT) based on FD Vietnam, cash term.

A trader commented, “Market is not very happening as converters becoming more cautious when it comes to making fresh replenishment. Yet, the PP market still able to firm up thanks to stronger international ground. We feel the market is digesting the local supply and for this, domestic offers might continue to move higher in the near term.”