Indian homo-PP concluded higher in China

Chinese players reported on the first trading day of the week receiving fresh offers for Indian homo-PP at $1210/ton CFR China, LC 90 days term, a $15/ton hike week on week. Deals have been reported for homo-PP injection grade at the new price level while demand for yarn remains a little slack.

Continues firming domestic market and persistent lack of import offers encourage Chinese buyers to accept the latest hike. A source added, “However, buyers seems to show more interest in homo-PP injection grade than yarn. Supply is tight in both local and import ground and we believed that the current trend might sustain in the near term.”

Import offers for homo-PP to China below the $1200/ton threshold has not repeated this week and with buyers lifted acceptance levels, it is likely that other overseas suppliers would eliminate the previous low-end prices.