Traders in Brazil believed Asian offers could go down $100/mt for November due China was not buying strongly and demand in Latin America was slow as well, sources said.
"We think Asia is going to offer cheaper for next month. Polypropylene offers are being pressured to go down more than polyethylene because we have heard Asian producers could have more inventories," said the source.
South Korean polypropylene offers to Brazil were stable over last week at $1,530/mt CFR for homo and at $1,570/mt CFR for co-polymer. Bids in the Brazilian market were heard this week at $1,490/mt CFR for homo and at $1,530/mt CFR for co-polymer.
