China’s local PP, PE markets start week on a soft note
A trader based in Ningbo reported that they cut their local PP prices by CNY200-400/ton ($32-65/ton) for raffia, CNY50-200/ton ($8-32/ton) for injection and CNY300/ton ($48/ton) for PP block copolymer injection, bringing their new prices to CNY9300-9400/ton ($1304-1318/ton without VAT) for raffia, to CNY9450-9500/ton ($1325-1332/ton without VAT) for injection and to CNY10050-10100/ton ($1409-1416/ton without VAT) for PPBC inj, all on an ex-warehouse China, cash basis. “We feel that prices still have some room to move lower as demand is likely to remain stagnant until August,” he commented.
According to another trader, both local and locally-held PP and PE prices started the week with some drops of CNY250-300/ton ($40-48/ton) for PP raffia and CNY150-300/ton ($24-48/ton) for LLDPE film. He is currently offering PP raffia at CNY9310-9700/ton ($1306-1360/ton without VAT) and LLDPE film at CNY10450-10650/ton ($1465-1493/ton without VAT) on an ex-warehouse China, cash basis.
A source from a domestic producer commented, “China’s local PP and PE markets are softer this week as demand is not really picking up. We are expecting to see some further decreases in the days ahead.”
In China, overall local PP prices currently stand at CNY9950-11000/ton ($1395-1543/ton without VAT) for block copolymer inj and at CNY9300-9800/ton ($1304-1374/ton without VAT) for raffia and inj, on an ex-warehouse, cash equivalent basis. According to ChemOrbis Price Index, the lower ends of the current PP ranges represent weekly decreases of CNY350/ton ($56/ton) for PPBC injection and CNY150/ton ($24/ton) for raffia and injection.
For PE, overall prices are now at CNY11350-11900/ton ($1592-1669/ton without VAT) for LDPE film, at CNY10450-10700/ton ($1465-1501/ton without VAT) for LLDPE film, at CNY10650-11150/ton ($1493-1564/ton without VAT) for HDPE film, at CNY10600-11500/ton ($1486-1613/ton without VAT) for b/m, at CNY10650-11100/ton ($1493-1557/ton without VAT) for HDPE inj and at CNY11400/ton ($1599/ton without VAT) for HDPE pipe (PE100), on an ex-warehouse, cash equivalent basis.
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