Trader in SE Asia lift offers for Indian homo-PP by US$80 in line with suppliers hike

A trader in Southeast Asia reported that they lifted their offers for Indian homo-PP to the region this week by US$80/ton in accordance with their supplier’s price hikes, bringing the trader’s current offers for Indian homo-PP injection and raffia to US$1380/ton CIF SEA, cash, as per Chemorbis. The trader attributed the rise in PP prices to firmer propylene feedstock costs as well as limited availability in Asia. The trader complained that their new offers are not meeting with much interest from converters. Elsewhere in the region, a woven bag manufacturer in the Philippines reported that they secured some Indian raffia at US$1370/ton CIF Philippines, cash, commenting that they purchased this cargo in order to secure their immediate needs.
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