Indian homo-PP fell below the $1200/ton threshold in China

After four weeks of constant pressure from sluggish post-Lunar New Year demand condition, traders decided to slash import offers for Indian homo-PP to China by $20-30/ton compared to the beginning of the week, bringing latest offers to $1170-1180/ton CFR China, LC AS term, June arrival.

This is the first time import homo-PP to China fell below the $1200/ton threshold since the third week of January 2018. Deals have been materialised at $1170/ton, sources said, adding that Middle Eastern suppliers have yet to implement such reduction.

“Buyers have agreed to the latest price levels, though deals are just small. Local cargoes are still more competitive and we do fear of a persistent softening trend ahead, especially in the current international trade environment,” a trader commented.