Vietnam PP import prices fall 4.2% on weak demand
19 October 2012 07:03 [Source: ICIS news]
SINGAPORE (ICIS)--Import prices of polypropylene (PP) in ?xml:namespace>Vietnam have fallen by 4.2% this week as suppliers reduced offers to draw buying interest amid weak demand, market sources said on Friday.
Indian and South Korean PP flat yarn resins were sold at $1,380-1,400/tonne (€1,063-1,078/tonne) CFR (cost and freight) Vietnam for November shipment, down by as much as $60/tonne from last week, local distributors said.
The prices differ depending on the origin of the material, they said.
In the week ended 12 October, the benchmark PP flat yarn spot prices were assessed at $1,440-1,450/tonne CFR Vietnam, according to ICIS.
A number of plastics processors in Vietnam are running their plants at 60-70% of capacity because demand has been weak in the domestic and export market, a source at a southeast Asian polyolefin producer.
($1 = €0.77)
Additional reporting by Angie LiBy: Chow Bee Lin+65 6780 4359
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