China’s Feb homo PP imports from US hit more than 5-year high
This was in line with Chinese players’ reports of the arrival of deep-sea cargoes in the post-holiday period in February.
Despite the players’ expectations of seeing a rebound after the Chinese New Year Holidays in China, the PP market opened the post-holiday period on a soft note given weak demand and ample supply levels. In addition, softer PP futures on Dalian Commodity Exchange also weighed down on buying interest and players mostly preferred local materials due to their competitiveness over the imported cargoes.
A trader commented, “Import supply is quite sufficient as the disrupted availability from the Middle East is counterbalanced by the continuous arrival of deep-sea cargoes.”
In February, China’s total homo PP imports reached 331,157 tons, up around 26% from 261,897 tons in January. However, during the same period India’s PP exports to China declined by 55.4% to 3,825 tons from 8,581 tons in January despite the fact that shipments from most countries indicated higher volumes.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Import LDPE, LLDPE prices almost back at par with ethylene in China
- Turkish players voice early PP, PE expectations for November
- Thin buying cushions impact of PVC shutdowns across Europe
- China’s PP market makes a strong start to post-holiday period
- Asian ethylene-naphtha spread narrows to 3-year low
- Local PVC markets plunge in India, Southeast Asia
- PE sustains soft path in October across Africa, Mid-East
- Will propylene hike be reflected on European PP?
- US PE sellers continue to target SE Asia as trade war with China escalates
- Spot ethylene hits 14-month low in Asia, Europe despite crude rally