Duty free homo-PP concluded below $1300/ton in Vietnam

Vietnamese buyers reported having purchased regular homo-PP cargoes originated from China at $1290/ton for yarn and $1285/ton for injection grade, all based on CIF Vietnam, LC AS term. These cargoes are exempted from import duties of 3 per cent. 

“We confirmed purchasing 300 tons of yarn and 50 tons of injection due to the competitiveness. We do expect other suppliers to follow suit in the coming week,” a converter informed.

Such development is expected to have an impact on the market sentiment and buyers, who have been hoping to see a correction now have more reason to refuse fresh buy at high levels.