Homo-PP offers to Asia steady at pre-holiday offer levels from the Middle East

25-Feb-10

Several Middle Eastern producers have announced their initial homo-PP offers to Asia with rollovers from their pre-holiday offer levels, as per Chemorbis. Sellers attributed their decision to leave their offers unchanged to the lack of trading activity in the market in the first few days after the holidays while waiting for Chinese converters to return. A major Middle Eastern producer announced initial March offers to Malaysia with rollovers from their pre-holiday offers this week, bringing their current offer levels to US$1360/ton for PP raffia and US$1380/ton for PP film, CIF Malaysia, cash basis. As the producer has not been able to conclude any deals at the new prices, they seem prepared to consider giving discounts of US$10-20/ton to serious buyers. Meanwhile, a global producer rolling over March offers for Middle Eastern homo-PP to the Chinese market at US$1360/ton CFR China, cash for homo-PP injection and raffia, has not yet concluded any deals as market activity remains muted for the present.