Despite increases in polypropylene offers from Asia to Latin America by US$60-100/mt for August, Asian prices remain very competitive in the region, as per Platts. Asian prices have been on an upswing over the past month as buying activity has picked up, particularly in China. After the hike, Asian August offers to Peru were heard at US$1800/mt CFR for co-polymer and at US$1760/mt CFR for homo raffia and injection.
Asian offers are well positioned as Latin producers are also raising offers. Offers from Latin American sellers moved higher in response to higher Asian offers. Colombian PP offers to Peru spiked by US$70/mt over last week to US$1940/mt CFR for homo raffia, US$1960/mt CFR for homo film and at US$2000/mt CFR for co-polymer impact. Brazilian August resin offers to Colombia rose by US$100/mt over July to US$1900/mt CFR for homo raffia and injection and US$1950/mt CFR for co-polymer.