PP homopolymer offers from Middle East to India slashed

02-Apr-10

PP homopolymer offers for Middle East to India were reduced this week in line with softening prices in other key Asian markets according to distributors, as quoted in Chemorbis. A distributor reported receiving offers from major Middle Eastern global producer this week at US$1300-1310/ton for homo-PP injection and raffia and at US$1320-1330/ton for PP film, CIF India, cash basis, subject to 5% customs duty. This is a decrease of US$25/ton when compared with the producer’s most recent offers to the Indian market. A converter commented that PP demand is regular inside the country at the present and local offers are more competitive, hence they are not interested in import offers.