Asian Market
According to Platts, PP prices in Northeast Asia declined this week. PP yarn and injection grades decreased. In Southeast Asia, most PP grades (yarn/injection, BOPP, IPP film, and block copolymer) stayed stable, except in Vietnam.

Impact Of Geopolitical Tensions
The Asian PP market experiences strong fluctuations due to the US-Iran conflict. Although both sides have announced a temporary ceasefire for about two weeks, maritime security in the Strait of Hormuz remains highly tense. Vessel traffic through the strait is still limited, raising concerns about prolonged supply disruptions. Most polymer suppliers in the region are maintaining firm offer levels, with only minor price reductions in certain cases.

Prices In Vietnam
At the beginning of the week, import PP offers from some Chinese suppliers increased sharply compared to the previous week. However, some suppliers have since slightly reduced prices for certain grades.

Domestic PP producers in Vietnam have simultaneously raised their offer prices compared to last week, mainly due to alignment with export price trends and a focus on prioritizing supply for nearby export markets with strong demand. Some major distributors have also pushed domestic PP prices to new highs. However, imported PP yarn and injection grades from China and South Korea are still offered at more competitive prices than domestic products.