Import PP raffia prices sink below $900/ton in China
The trader commented, “Import PP prices continue to decrease in the face of persistently weak demand amidst sufficient supplies stemming from the addition of new coal based capacities. We continue to receive offers from suppliers; however we are only purchasing small amounts from our regular supplier in order to maintain our relationship.” He highlighted that the recent losses in crude oil prices have also pushed buyers to the sidelines while PP futures prices on the Dalian Commodity Exchange witnessed a visible drop of CNY187/ton ($29/ton) on a daily basis on November 13.
Import homo-PP raffia prices are currently reported at $887-970/ton on a CFR China, cash equivalent basis. According to data from ChemOrbis Price Index, the range suggests the lowest levels seen since 2009.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PE market stuck between weak fundamentals and up pressure from China
- Firming PP trend falters in China’s local market
- European players question if bottom is near for PE
- Asian ABS players turn cautious after recent rally
- July PVC dealt lower in Europe, what lies ahead for August?
- China’s Jan-May total polymer imports hit a record of nearly two decades
- India’s local PVC market soars to 6-month high after customs hike
- China’s export PET market faces correction after rising 10% from two-year-low
- Spot propylene moves in opposite directions in Asia and Europe
- European PS hits year-to-date low on July drops