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Import PP prices see further losses in China

by ChemOrbis Editorial Team -
  • 09/07/2015 (10:39)
Players in China report that import PP prices witnessed another round of decreases in the face of lackluster demand and ample supply. A trader said that they were offered Indian raffia with a $30/ton decrease at $1160/ton CIF, 90 days. "Our supplier had been offering at $1190/ton, 90 days at the start of the week, but brought their prices down as they were struggling to sell. Import prices continue to be pulled lower by attractively-priced domestic coal based cargoes. We are holding low stock levels these days, but we are not planning to make fresh purchases yet and plan to watch developments for a while longer," a trader stated.

A second trader reported receiving Indian homo-PP prices at $1190/ton CIF, cash. “Domestic coal based cargoes are offered at an import parity of around $1160/ton, so prices remain under downward pressure and we believe that the market still has room to come down,” the trader stated.

Import homo-PP injection and raffia cargoes came down $10-40/ton on the week to be quoted at $1145-1240/ton CFR China, cash equivalent basis.
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