Import PPBC prices post steep declines in China
A trader based in Hong Kong reported receiving an offer for Thai PP block copolymer at $900/ton CFR, cash. “PPBC prices have seen steep declines this week and are now trading close to par with homo-PP prices. Most buyers are meeting their needs from the domestic market rather than the import market these days owing to the strong dollar. We believe that PP prices still have room to decline given the comfortable gap between spot propylene and PP prices,” the trader stated.
Another trader added, “We have heard rumors that import prices for non-dutiable Southeast Asian PPBC cargoes have fallen to as low as $870/ton while we believe that this price is still too high to compete with domestic prices. We are not active in the market for now as we are out of stocks.”
Import prices for both dutiable and non-dutiable PP block copolymer injection prices in China fell $60/ton week over week to be quoted at $880-950/ton CFR China, cash equivalent basis.
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