Chinese coal based producer lifted homo-PP export offers

A major coal based PP producer announces new offers to export market today at $40/ton higher than last week, reaching $1120/ton FOB China, LC AS term. No deals reported at the latest offers, yet the maker does not seem to be under pressure to adjust prices.

This is the third week in a row the producer up-adjust export offers, claiming healthy sales in local ground. A producer source said, “Sentiment in China improved significantly and likely to remain in this condition throughout this month. Southeast Asian buyers are not showing much interest in our cargoes, and we might focus more on local sales this time.”