29 October 2010 04:23 [Source: ICIS news]
Two US-based traders had sold 5,000 to 6,000 tonnes of US block copolymer PP at $1,420-1,430/tonne (€1,022-1,030/tonne) CFR (cost and freight)
Block copolymer PP from northeast Asian and
PP injection and yarn grades were offered at $1,400-1,410/tonne CFR China for December shipment, but these attracted no buying interest, as bids were lower at $1,360-1,370/tonne CFR China, they said.
Some importers in
An Asian producer said he was not surprised that the arbitrage window had opened at this time, because US PP producers typically seek export outlook to clear stocks before their financial accounting closes at the end of the year, to avoid paying inventory tax.
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