Indian homo-PP concluded at higher level in China

It is reported that several traders have attempted to implement $15/ton hike on import homo-PP India origin to China on the first trading day after the Dragon Boat Festival, reaching $995/ton CFR China, LC 90 days term. Several deals are observed at the latest level, with no discount.

A trader claimed to have sold few hundred tons of the cargoes at the mentioned price said, “Buyers are not very eager to make replenishment, however, thanks to firmer propylene costs, we are able to achieve hike target. We hope local suppliers would maintain firm stance in the coming days, which in turn might support the import ground.”