India’s MRPL offers PP for export
Indian state-controlled refiner MRPL has issued an export tender offering 7,000t of polypropylene (PP) grades.
The tender, issued late on 3 April, offers 3,000t of raffia, 3,000t of injection moulding and 1,000t of TQ film grades for loading from 1-10 May.
The cargoes will be sold on an ex-works New Mangalore basis.
MRPL shut its 440,000 t/yr PP plant in late March as the Indian government enforced a 21-day lockdown to counter the spread of the coronavirus. The duration of the shutdown is unclear.
Indian polymer producers are targeting export markets as local demand is reeling from the transport restrictions imposed under the lockdown.
Truck deliveries of polymers to plastic factories across India remain a challenge and most convertors are reducing or shutting operations. The lockdown is currently scheduled to run until 14 April.
PP raffia prices were at $780-830/t cfr India on 2 April, lower by $95/t than a week earlier, according to Argus data.
By Muhamad Fadhil, Bohan Loh and Yee Ying Ang
source: Argus Media
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