Transaction for import PP Homo Raffia between June 29 to July 3 on LC at sight, CIF China Main Port basis
Description: *Mid August shipment offers, **September shipment offers- Central Asia origin $890/ton
- Indian Subcontinent origin $890-910/ton
- Middle East origin $880-920/ton
Comments by market players on PP Homo Raffia market as follows:
“This week, we have announced Mid-August shipment offers for PP Homo Raffia to China market. As compared to three weeks ago, our offers increased by $10/ton. So far, we received cold responses from Chinese buyers; hence, no deals concluded yet. Pertaining to shipment, currently, we do not have any issue or shipment delay to other countries,” the leading Indian petrochemical producer commented on July 1.
A Chinese trader informed SSESSMENTS.COM on the response for Indian PP offers, “The leading Indian petrochemical producer has announced September shipment offers for PP Homo Raffia at $10/ton lower than July shipment. However, the offers are deemed unattractive by buyers. Besides the high prices, at the moment, converters prefer to take prompt delivery cargoes owing to many uncertainties in the market, especially due to the tensions between China and India.”
A global trading house shared with SSESSMENTS.COM the fresh import PP offers from several origins to China market. ”Compared to a fortnight ago, July shipment offers for PP Homo Raffia from the leading Saudi polyolefins producer to China moved up by $30/ton, currently at $1,060/ton on LC at sight, CIF China Main Port basis. Similarly, we received July shipment offers for Emirati PP Homo Raffia at $90/ton higher compared to June at $920/ton on the same payment and delivery terms. While for Indian cargoes, we received September shipment offers for PP Homo Raffia at $910/ton on LC at sight, CIF China Main Port basis. No comparison as the trader did not receive offers from this origin before.”
“We are offering Indian and Russian PP Homo Raffia cargoes at $890/ton on LC at sight, CIF China Main Port basis and managed to close some deals at the same level to the initial offers. At the moment, PP demand in China is quite healthy but could not be categorized as strong since July-August is the traditional low season for PP in China,” a Chinese trader contacted by SSESSMENTS.COM on July 3 revealed.
“July shipment offers for PP Homo Raffia of Oman origin stood at $900/ton on LC at sight, CIF China Main Port basis, no price comparison available,” a trader said.
Tags: Asia Pacific,China,English,NEA,News,PP
Published on July 6, 2020 12:19 PM (GMT+8)Last Updated on July 6, 2020 12:19 PM (GMT+8)
