Thai producer offered discounts on PP cargoes to Vietnam

A major Thailand producer has reportedly down adjusted PP offers to Vietnam today by $20-30/ton compared to the beginning of this week, which sources claimed to be following the general trend. Latest offers indicated a reduction of $30/ton for homo-PP yarn and $20/ton for PP block copolymer, to reach $1105/ton for both grades, based on CIF Vietnam, LC AS term.

Buyers in the country are placing bid for homo-PP yarn cargoes in the range $1060-1090/ton with the same term with a source close to the producer informed, “We are considering bids at the upper end of the range we received. Buying interest for import cargoes is not very strong in Vietnam at the moment despite tight availability for yarn grade in the local ground.”

Would the producer accept the bid at $1090/ton CIF Vietnam, LC AS term for homo-PP yarn cargoes, pressure on dutiable cargoes is expected to heighten, players said. “We have suspended our purchases as market seems still on the downward slope,” a buyer said.