Asian makers announce homo-PP offers to Vietnam, resistance builds up
Asian makers announce homo-PP offers to Vietnam, resistance builds up

Couple of Asian producers has announced fresh import homo-PP offers to Vietnam today at relatively firm levels with persistent limited supply and strong upstream costs continued cushioning the trend. However, demand is moving antagonistically as buyers refused to accept the current prices.
A major Thailand producer open new offers for homo-PP yarn after a long absence at $1230/ton CIF Vietnam, LC AS term. The maker informed of only having 500 tons allocation and is not willing to negotiate. “Our customers are asking for $40/ton discount, in line with several deals done earlier this week. We are selling well to Japan these days, hence have no plan for adjustment from price list,” a source close to the producer said.
PP block copolymer from the same producer stand at $1235/ton CIF Vietnam, LC AS term. Respond toward this grade appears to be better given the up-coming implementation of 3 per cent import duties for dutiable cargoes.
Meanwhile, South Korean homo-PP offered at $1220/ton with the same term, up $30/ton from last week. A number of converters contacted by CommoPlast are not eager to make replenishment, indicating a cap of how much more market could firm up. “Asian suppliers are moving too fast. We are waiting for major Middle Eastern producers to announce new offers before making decision,” a buyer commented.
Import homo-PP to Vietnam has been following an uptrend for nearly two weeks, with price ranging $1170-1230/ton CIF, LC AS term.