Asian polypropylene offers to Peru saw a US$40/mt decrease last week on sluggish PP demand in Peru amid speculation that Asian offers could see another dip. With this Peruvian prices have become the cheapest prices in the Andean Countries (Ecuador, Colombia, and Peru) market, as per Platts.
Following last week's fall, South Korea was offering homo at US$1530/mt CFR Callao, US$1550/mt CFR co-polymer, and at US$1590/mt CFR random. Few market players are considering buying material on the water from India as a good option right now, due to better prices, and a 10-15 day delivery period. India's offer to Peru was at US$1540/mt for homo raffia and injection, while co-polymer offers from India were scarce in the Peruvian market this month.
Meanwhile, polypropylene bids in Peru were heard around US$1490/mt CFR for homo and at US$1500/mt CFR for co-polymer. Colombian resin offers to Peru were heard higher than the Korean ones at US$1630/mt CFR for homo raffia, and US$1700/mt CFR for co-polymer. The US was still not offering polypropylene to Latin America.