Transactions for import PP Homo Raffia between June 15 to June 19 on LC at sight, CIF China Main Port basis
Description: *Offers for July shipment- Far East Asia origin $950/ton
- Middle East origin $870-930/ton
- Southeast Asia origin $920/ton
Comments by market players on PP Homo Raffia as follows:
“In the week commencing June 8, we received offers for Middle Eastern PP Homo Raffia between $870-900/ton on LC at sight, CIF China main port basis. The offers have increased between $30-40/ton compared to offers received in the first week of June. The offers were too high, thus, the deal volume is limited. Buyers are cautious in making purchases nearing the traditional low season. The outlook for PP prices in China in the second half of 2020 is not positive considering the new capacity. Liaoning Baolai will conduct a trial run at the company’s two PP lines with a total capacity of 600,000 tons/year on July 20. Zhongke Petrochemical also plans to bring its two PP lines with a total capacity of 550,000 tons/year on stream in July,” a trader in China informed SSESSMENTS.COM.
“We do not have any offers for PP to China this week as all the allocation has been sold out to the South Africa market. We heard that offers from Saudi to China for PP Homo Raffia stood at $930/ton on LC at sight, CIF China main port basis, ” a trader based in Dubai commented.
“We have not received any fresh import PP offers yet. Demand for PP is weak and prices will be more likely to just stabilize at the current level,” a Chinese trader opined to SSESSMENTS.COM.
“Our July shipment allocation to China has been sold out. PP Homo Raffia cargoes were sold at $920/ton on LC at sight, CIF China main port basis,” a Malaysian producer stated.
“There were not many import offers in the China market in the last two weeks. This week, we only received PP Homo Raffia offers from a Saudi producer at $930/ton on LC at sight, CIF China main port basis. The offers increased by $30/ton from last week. We consider the offers as too high,” a trader in China reported.
“We received PP Homo Raffia offers from Saudi at $30/ton higher from last week. Market talks have it that offers for PP Homo Raffia of India origin stood at a stable level compared to the same period, at $900/ton on LC at sight, CIF China main port basis,” another Chinese trader informed SSESSMENTS.COM.
“We just announced July shipment offers to the China market. Our offers for PP Homo Raffia increased by $90/ton compared to June shipment, currently at $950/ton on LC at sight, CIF China main port basis. Chinese buyers might resist high offers and deals might be achieved at a lower level,” a South Korean producer told SSESSMENTS.COM.
Tags: Asia Pacific,China,English,Korea,Middle East,News,PP,SEA
Published on June 22, 2020 12:51 PM (GMT+8)Last Updated on June 22, 2020 12:51 PM (GMT+8)
